aftermarket chaos what really happens?

  1. 791 Posts.
    I was watching the close on WBC and it looked like 15.40 would be the close. Then when the market closed the bid/ask went to an impossible spread ie. the bid was higher than the ask. This I know happens routinely to most stocks everday.I have always presumed the asx does this to signify the close.
    However all of a sudden crazy bids and crazy ask prices came on to the screen, some 50c - 1.00 from the last genuine sale price of the day. This was after the asx placed the impossible spread. It made no sense at all, some of the crazy bids were higher than the crazy asks with the end result the final share price of the day is altered.
    Today wbc lifted 6c after the close, which I know happens all the time, but the puzzling thing is the aftermarket bid/ask prices (how do they work?).
    I can only presume they are somehow averaged out, but how can people quickly work this out when placing these outrageous b/asks? It seems it would have been easier (and cheaper) for people to buy in the last 10 min of trade.

    Astonished completely by this as wbc was looking sick this pm and should have finished down for the day - now it will show a 1c gain.

    Anyone know how this works?


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