Telkonet Inc (fka TKO)

[reallybadtrader]

You can show a bid/offer at whatever price you want. Whether someone wants to execute a trade at that price is up to that party. There was an exchange system problem this morning and most if not all of AMEX had a delayed opening. However, that does not stop anyone else from posting quotes.

To answer your question directly, someone most likely got nervous thinking the stock was going to open lower and sold to the only bid that was posted at 1.39. When the exchange actually did open, obviously that trade was a silly one.

If your broker/dealer lets you, you can post quotes before and after market as well. There is very little liquidity thats why its very dangerous to do it. You never know whats gonna happen and there are no undos.