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    skmecham's Avatar
    skmecham Posts: 1, Reputation: 1
    New Member

    May 20, 2014, 12:52 PM
    My ask price is below the ask price displayed online
    I have only been in the stock market for a few months. Things have been going good until I recent decided to try a penny stock. Bad idea. I am in a stock that currently has a bid of about .37 cents and it shows an ask of .39 cents. The problem is I have been trying to sell for a few days at ranges between .33 and .39 cents. The stocks most recent price keeps jumping up to .39, 40 and even .41 cents as different transactions take place. My stock is not selling however, and I am asking only .37 cents! Why is my stock not showing up in the ask price, and not selling when people asking more are selling theirs? The problem is not quantity because the .40 and .41 cent sales were similar to my quantity. I also don't have it set to all or none. I am with Ameritrade. What is going on? Why can't I sell this stock?
    ebaines's Avatar
    ebaines Posts: 12,132, Reputation: 1307

    May 20, 2014, 03:56 PM
    The dirty little secret of penny stocks: often the actual trades are managed by brokers who are convincing one of their clients to buy while at the same time convincing another client to sell - often at a lower price (and guess who pockets the difference). So it may be that the sales you see on line are not "arms length" deals that you can jump in to, but rather prearranged swaps that you have no access to. Often you'll see disclaimers on broker statements that they "make a market" in the stock - that's your clue that the game is rigged, and it's not in your favor.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,304, Reputation: 7692

    May 20, 2014, 07:25 PM
    Ahh, yes, penny stocks, I remember when Radio Shack as a penny stock and my friend became a millionaire. Lol, I did not do to bad either. Of course I own enough oil and energy investment stock that is worthless. Many trades are not done that easy, and those there may be 1ooos trying to sell

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