Not Bid
What happens when you sell a stock with no bid?

If a stock is no bid x .0001 and you put in a market order to sell it, what will happen? I've heard the market makers are obligated to pick it up at .00001. I've also heard it will simply be the equivalent of a .0001 limit order. I'm not sure how it would work.

The market order will not execute. You will get an error message saying that you need to use a limit order to ask a price for the stock.

Market orders on penny stocks are not allowed and this scenario you are proposing is the case of a penny stock where the highest bid is less than $1.00



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