Misinformation about micro-strategic securities has been ramping on social media, and claims about incredible delays in company conflict (STRF) purchase orders are the latest awful example.
According to Josh Mandel, the fidelity of the $6 trillion asset manager and brokerage company failed to meet STRF’s market purchase orders for more than seven minutes.
Moreover, in his questionable view, the actual best offer, “evidently higher than quoted” is actually the best offer, because of the outward delay, the fidelity cited to him is not authentic.
If true, there would have been a reason for such an extended delay About how the stock market works better than MicroStrategyits founder, Michael Saylor, or the preferred stock of the company.
A market purchase is an exchange regulation order to quickly fill the broker with a specified number of stocks at the best price that will immediately be available to you in a general offer.
However, the exchange only sets up rules for orders that brokers accept during business hours.
Unlike the digital asset market, stock markets like NasdaqGS, which list STRFs for trading, should not allow trading 24 hours a day.
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What type of micro-strategy market do you have purchase orders?
If Mandell uses Fidelity’s retail intermediary to purchase MicroStrategy Preferred Stock, NASDAQ requires Mandell to fill in traditional market purchase orders during the regular trading session.
Also, many securities companies accept so-called extended-time market purchase orders. This is labelled as a market purchase order by a broker for convenience, unlike regular trading session orders.
Extensions in the morning (4am to 9:30am) and evening (4pm to 8pm), purchase orders are not essential market makers who are tasked with virtually thin liquidity, much broader bids/question spreads, and orderly bids and offers.
moreover, Some securities do not trade long sessions for long periods.
Finally, outside of long hours, the exchange does not have to fill the broker with any purchase orders in the market. By weekends before 4am, after 8pm, exchanges will be closed completely and stocks will not be available for trading.
This is the time Mandel ordered, and many people point out that his posts are outside of normal trading hours.
In the end, he admitted more and said, “.”Information value for this post = zero. ”
