Do you know of, or has any news come out about when this decision and outcome will be finalized???? I may not event trade BIOAQ if it's next week.
The answer to your question is your trade order is activated on an electronic trading platform at the very next price at or above your limit order price, that is closed. So you may get it closed @ .50, .51 depending on where your order is in the market que.
Orders do NOT close on news. They close on who's next when your price is reached. Only way you get a buck is if the price gaps to that level, with no buy's or sell's before 1 buck.
I am really concerned that you think you will make money on the result of the companies dilemma story. With more then 1 outcome in the works, your betting, not trading or investing. You and all the others posting about the possible out come actually have NO idea what will result. Or for that matter what how any result will effect a shareholders ownership status.
I can say I've been involved with several stocks coming out of bankruptcy and can't remember 1 time I ended better off after. If you owned restricted stock or debit then yes! But it's rare shareholders win.
Personally I'd lower my greed factor and trade out on the price action, but keep a small BET on my hopes, long. Only a little over a month ago I lost over 80% of a large swing trade, which came out of BK early! Caution IMO is the word.
