Hi there,
I recently sold 5 Tesla share when the market was around 490-500 (on the 27 of March at 13:49) and when my trade was executed, the price sold was 406 each. Considering this is nearly 20% off from the stock price at the time, should this not have been rejected? Any clarification on this would be much appreciated.
UPDATE: This has now been resolved, it was my bad, the price was in £ rather than $.
Thanks,
Chris
Hi Chris
The market can be extremely volatile right now, which means that the bid/ask spread was likely much wider than under normal market conditions.
We do not execute trades if the price quoted by a market maker is outside the observable bid/ask spread on the LSE order book. This can lead to order rejections, especially under turbulent market conditions, as experienced by many of our customers on Monday.
There’s some more information on pricing and market volatility in the posts below.
Hope this helps. If you do want to discuss the specific details of your order, you can drop us an in-app message and our team will get back to you.
I think this may need a more logical answer, as the share price of tesla definitely did not drop to $406 at any point on the 27th.
@cmathurin could it be that you saw the stock price at around $500, but when you’ve sold you can see it sold for £406 (pounds not dollars)? $500 today is around £405, so that would seem to make more sense?
Glad that helped, I’ve been there myself!
I should have paid more attention!