Perplexed as to why my sell order didn't execute

TelescopicWombat

I put a limit order in last night of 3.52 to sell some stock today, but this didn't execute. The share price yesterday was 3.62, and went up to 3.64 today.

I thought this would go through as the limit to sell at 3.52 was way below 3.64?

Surely it wouldn't execute at 3.52 or below, as this is limit to sell not to buy?

george4064

What is the stock?

For how many shares was the limit order for?

When did this occur?

wmb194

TelescopicWombat said:

I put a limit order in last night of 3.52 to sell some stock today, but this didn't execute. The share price yesterday was 3.62, and went up to 3.64 today.

I thought this would go through as the limit to sell at 3.52 was way below 3.64?

Surely it wouldn't execute at 3.52 or below, as this is limit to sell not to buy?

Is this a small cap? Were you trying to sell a lot of shares? There can often be liquidity issues in general but particularly if you're trying to sell more than the 'normal market size' that market makers are supposed to cater for in any particular share/security. You could try a smaller order size.

TelescopicWombat

I was selling around £3,000 of shares, so not much in monetary terms. The company is a British stock on the LSE.

george4064

TelescopicWombat said:

I was selling around £3,000 of shares, so not much in monetary terms. The company is a British stock on the LSE.

£3,000 worth of a small cap stock could still exceed the EMS, which stock is it?

Also, is the stock price £3.62 or £0.0362?

Thrugelmir

Someone has to be interested in buying the stock for you to sell.  What's the stock ticker? 

What's the bid price for the stock?  This will be lower than the quoted market price. 

TelescopicWombat

It's Cake Box Holdings - ticker CBOX. My holding is 832 shares. Current price 3.64 GBP. 

A large share holder recently sold a fair chunk of his shares. Could this have something to do with it?

I'm using the Jarvis X-O platform.

Thrugelmir

Closing Bid / Offer according the LSE today was 350p/370p.  

There were only 8 trades yesterday. Trading looks thin at the moment. 

TelescopicWombat

It's been aThrugelmir said:

Closing Bid / Offer according the LSE today was 350p/370p.  

There were only 8 trades yesterday. Trading looks thin at the moment. 

It's been a good stock to hold, and done very well last year.

I just think I could hold this money in a better returning stock going forward.

Is it a matter of waiting a week/month and try again?

I did only have this order active for 24hrs. Maybe I should re-submit it to stay active for a few days instead?

Thrugelmir

You can set the limit price to the end of the month if you wish. 

Have you tried selling in the open market? 

wmb194

It's the bid that matters and it's what the systems monitor for sell limit orders. If the bid/offer was 350p/370p all day then it wouldn't have triggered. If you actually try to obtain a quote - 'quote and deal' of whatever x-o will call it - you might find that you'll be offered a price within this spread. 

It looks like the NMS for this share is 3,000 units so in *theory* you shouldn't have any trouble having your order filled.