An anecdote, then a question. I had a sale request on Ryanair shares for the last few weeks, set at a minimum of €13.20 per share. Obviously with the volatility in the markets recently, I wasn't really anywhere near hitting that mark until this week. Woke up this morning to Ryanair's upbeat trading update and share price jump and thought: 'damn, I should've held off for a bit!'. However, the shares opened this morning at €14.20 and my sale was traded at that price... great stuff, a nice slice of luck for a change!
So now a question - how are opening share prices set if there's no trade in the share overnight? I would've presumed the closing price from the previous day which would then jump quickly on the release of newer information.
So now a question - how are opening share prices set if there's no trade in the share overnight? I would've presumed the closing price from the previous day which would then jump quickly on the release of newer information.