I have a unique situation. The RSUs issued by my company is in another country's stock market and there is a 20 minute delay in data between the US and our knowledge of that country's stock market, so I can't quite time the market or watch the data in real time.
I have 12000 RSUs I want to sell. This is a significant portion of the daily volume as I'm seeing it fluctuates between 500k and 800k per day.
My company uses a broker that provides market order, limit order, and day limit order. Most people I know are using market order to sell their RSUs, but I'm a little paranoid of market orders since I'm not clear how much guarantee I have that the market order will execute anywhere close to the share price. For example some wild situation where the share price is normally $10 but it dips astronomically to $5 and eats my market order then goes back up to $10. I assume I am grossly misinformed on that.
I've been placing limit order for the past 3 nights (since the country's exchange opens at night for me) 5 cents under the share price which is around 0.5% cheaper. It has fluctuated up and down 20 cents below/higher than this price I set for the limit order. The limit orders still aren't clearing, so am I misunderstanding how sell limit orders work or is there just not enough demand to buy a 12000 RSU limit order in one go?
Submitted June 22, 2023 at 03:41AM by deafgamer_ https://ift.tt/k4VRzdu
