I tried to make a Limit Market purchase for a pink sheet stock and I continue to get this message. I have increased my bid but no luck. Any help would be awesome.
2006-12-14 07:34:42 · 8 answers · asked by laf1406 2 in Business & Finance ➔ Investing
When you buy a stock on a regular exchange there is a market maker assigned who will sell to you if no one else wants to. That makes the stock 'liquid' - it guarantees you can buy and sell whenever you want when the market is open.
There are no market makers assigned to Pink Sheet stocks - so the fact that your order is not being filled means no current shareholders want to sell. There are many stocks on the Pink Sheets that don't trade for months at a time. The only thing you can do is leave your order in the market and hope that someone is prepared to hit it.
Incidentally you might want to check the information you're putting in for the trade. You can have a Limit order (meaning you buy below a certain price). You can have a Market order (meaning you buy at any price). You cannot have a Limit Market order, it makes no sense. ALWAYS use Limit orders, if you use a Market order the brokers will exploit you by selling at the highest price possible.
2006-12-14 08:04:40 · answer #1 · answered by popeleo5th 5 · 1⤊ 0⤋
Not every brokerage trades every stock. If you are in a program that, for instance, just trades the big three (NYSE, AMEX, and NASDAQ) then Over The Counter (OTC) are out of the ballpark--including PinkSheets, which is further down the OTC back alley trading territory.
They may have some info for their stock searches, but have no trading connections, and probably no desire to make the connection. The fishing is fine in their normal spots and casting for minnows on the side creeks is not interesting.
2006-12-14 08:06:02 · answer #2 · answered by Rabbit 7 · 0⤊ 0⤋
Penny stocks are loosely categorized companies with share prices of below $5 and with market caps of under $200 million. They are sometimes referred to as "the slot machines of the equity market" because of the money involved. There may be a good place for penny stocks in the portfolio of an experienced, advanced investor, however, if you follow this guide you will learn the most efficient strategies https://tr.im/fb19f
2015-01-25 00:49:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Could be that no one is trading the stock, that the volume is simply too light.
Also check to make sure you are using non-marginable funds to buy the stock. Basically seasoned funds, not funds you just put into the account a day ago. Needs to be around 5 business days at least.
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2006-12-14 07:39:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Call your broker and ask what the current asking price is on the stock. Or check the pink sheets internet site. It shows ask price and also volume of pink sheet stocks.
http://www.pinksheets.com/index.jsp
2006-12-14 09:17:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋