It's a way of purchasing a stock. Whatever.com is volatile. On any given day lately, it trades between $18 and $20. You have no idea if this thing is going to go to $40 or $4, but you want to roll the dice and own it. You want it now. Right now.
So you call your broker and you instruct her to purchase 1,000 shares of whatever.com at the market. The broker has a screen in front of her, with a live feed of market prices. She tells you that the market price is $18.38 at this moment, and that's the price at which you've just bought whatever.com. You bought it at a price that was at the market.
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Finance: What is Good 'Til Canceled (GTC...2 Views
Finance a la shmoop what is good til' cancelled or GTC? well it's a way in
which securities buy and sell orders are placed like i'll buy 10,000 shares of
coke at $42 a share and this order is GTC ie it's good or effective or living [Man holding stocks of coca cola]
until I tell you otherwise or cancel it got it could this order sit on the books
of a brokerage at Goldman or Morgan or Fidelity or another broker for 8 months
before executing sure sure it could if it isn't cancelled then it's effective
and it sits around waiting for that shoulder tap to finally get on the stock [Person taps on a mans shoulder]
conveyor belt and get on getting on being sold and that's it good til'
cancel just think Futurama it was good real good until it was cancelled and now [Man watching futurama]
it exists only in the pasturama...
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