In its most basic form thats what would happen.
Without getting too technical there is an algorithm used to determine the volume on the buy side versus the volume on the sell side and offsets them.
When you get overlapping in the auction, as per today, the close is dictated by where the volume is bid or offered.
I didn't watch it but saw somebody posted that there was a bid for a few million at $4.02.
Buyers overlapped sellers, and to enable the buy order to be filled, it was necessary to pay all of the sell orders up to $4
if you had a sell order in at $3, done at $4
Any auction bids below $4, not done.Any auction offers above $4, not done.
MSB Trading - 2020, page-11301
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Last
$1.25 |
Change
-0.058(4.41%) |
Mkt cap ! $1.432B | |||
| Open | High | Low | Value | Volume |
| $1.27 | $1.30 | $1.17 | $18.14M | 14.68M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 11 | 64110 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.25 | 55044 | 15 |
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| Last trade - 15.02pm 24/07/2024 (20 minute delay) ? |
| MSB (ASX) Chart |