Thursday, May 23, 2019 11:12:37 PM
Not sure why you think the ask price doesn't matter. Not every seller is a bid whacker. lol. In fact, most good traders sell on the ask so they can get the most money for their shares and don't drive the price down when they're selling. The person who sold 100K shares on the ask at the end of the day got roughly $3000 for their shares as opposed to whacking it down and getting several hundred dollars less for those same shares, especially if there were no offers for large blocks on the bid. He actually could have done even better or sold faster, if he had broken up the shares in 20K or 30K blocks because most people will slap smaller orders, whereas larger orders on the ask will sometimes scare people, so you end up making more if you break up your order, even if you have to pay commissions a few times. People who lose hundreds, even thousands, due to impatience or in order to save a couple of dollars in commissions are not savvy traders. There is simply no reason to whack unless you have an emergency need for your money or some terrible news came out and you want to get out in a hurry. If I didn't know better, I would think you are hoping for lower prices since you are trying to make it sound as if ask prices are irrelevant and sound upset that someone placed a $330 trade at the last moment... or maybe it's because you felt a need to post a warning in bold red letters of possible lower prices tomorrow... but, then again, it could just be me.
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