General discussion, page-2749

That is a completely normal pre-market auction.

I can put in a buy offer of $10 and it's not manipulation. It just pushes me to the front of the queue and guarantees me a fill at whatever price the auction ends at. The price depends on the balance of buy/sell offers (balances of volumes).

If it's a small amount I'm buying, then a $10 bid is safe and will go through at $1.275 as per your picture's 'indicative price'. If I'm attempting to buy a large amount I'd be completely dumb to bid $10, as it might push the auction price up to $1.30-1.50 upon open, and then fall back towards $1.275 after an hour, so I quickly lose some money.


Say it's 5 minutes until open. The indicative price is $1.275. I put in a buy offer for $1.31, because I would not complain if it went through at $1.31 and I want 90% chance of being filled upon open, though I expect it to likely go through at $1.275 anyway (indicative pre-market auction price). The only way I miss out on getting filled is if sufficient buyers jump above my bid, or the sellers change their offers to >$1.31.