Tezz, what you are witnessing is the auction process between 4pm...

Tezz, what you are witnessing is the auction process between 4pm and 4.10pm.

In the closing (and opening) auction all shares change hands at a single price. What this means is that all shares on offer below the 'matching' price will be traded. Similarly all shares bid above the matching price will be traded. What those people are doing is effectively jumping the queue to ensure that their shares are traded. The 65 cents is not a real offer because they know that bidders will be on the other side to mean the matching price is at 73 or threabouts.

If the sellers did the same thing in a really illiquid stock they may actually find the order is hit at 65 cents.

Hope that clarifies it. It is something that quite a few struggle to understand initially. I know I did.