Doesn't that just mean they wanted to sell the stock that they owned, not borrowed stock? The actual price is largely irrelevant in the closing auction, it will match out on the buy side much much closer to the last trade price before pre open, they obviously were very keen to sell so they entered their sell order $2 under the last trade price to make certain they sold. ie. went to the top of the sell depth. Thats my take on it anyway, from what you have described. Cheers
Commy
p.s. if you check the trades for the day you would be able to see the prices that occured during closing auction.
ZFX Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
