Replies to post #2960 on Aventura Equities Inc (AVNE)

[rnmenterprises]

"Well if the buyer used a limit order (even placed at .0009) to buy WNSH, then the sale certainly should have executed at the best price the market had available, which would have been .0001."

I'm not so sure of that. Seen lots of traders fess up to leaving out a 0 in their limit order, i.e. buying accidentally at .002, instead of .0002 that they were trying to enter. I'm sure I'll be guilty of it someday too! :)
Point being, these poor traders weren't given the "best price the market had available", they were given the price they had typed in as a limit. And needless to say, their orders went thru QUICK! lol
So, it SEEMS the trade was a buy (green on L2). Who knows, coulda been a rookie trying to buy at .00009, and forgot a zero in his futile attempt at buying... But what do I know... I was hoping for a PR too! lol

[imiloa]

Investors Apprentice, fwiw:

My thought was the same as rnmenterprises: Someone tried to place an order for 0.00009 and skipped a zero.

re: "should have executed at the best price," in an honest market, absolutely. Thus my sarcasm, "Wonderful World of MMs.."

If you think about how MMs work, it makes perfect sense. If I sell 100 shares of AAPL at the same time you buy 100 shares of AAPL, I don't sell directly to you. The MM buys my shares and then sells them to you, typically a penny or two higher, the differential being their profit.

In this case, someone offered to buy some WNSH at 0009. The first MM that saw that probably snapped it up instantly. 500k block, so only $400 profit (500k * (0009-0001)), but free money, so why not.