Extended hours, after hours, pre market

Hey @Joey_Fantana apologies for asking you directly, but you seem to know a lot… :slight_smile: When it comes to IPO’s launching, who gets to buy the shares after the initial big investors at List price, but before the Open?

e.g. Snowflake listed at $120 for private investors, then opened at $245 for the likes of us… but who gets to buy the shares in between the List and the Open? Is it simply “investors smaller than Buffet”? or is it just the same pre-market activity as discussed in this thread? i.e one that we could access if Trading212 offered it? Have googled it to death but can’t find the answer. Seems like easy money, which clearly means it’s not…! Many thanks

No worries, but unfortuantely this is one of my blind spots with the whole thing. I’m really not sure what is happening at that go-live point, but my best guess is this…

On the day of pricing (the day before) the privates and institutes negotiate their prices with the market maker, but the trades aren’t executed.

When the stock floats on day 2 of the process, these trades are keyed in first and that initial activity drives up the price before retail can get in the doors like it’s Black Friday.

Check the video in this link out for further context but that’s as best as I can derive from it I’m afraid;

That video is perfect - thankyou. I promise you I wasn’t being lazy! I have been researching but nothing seemed to explain it as well as that. Essentially, as you say, it’s just a second day of back and forth amongst investors after the list price has been made known. Also helps me realise why some stocks take longer than others to actually list on the day…as they sort out all the trades before “the book is frozen”.

And also confirms…muggins here ain’t seeing any of that easy money!

1 Like

Ha ha no worries. To be fair I have @phildawson to credit with sourcing it.

There are pre-IPO opportunities via clickipo.com but they aren’t anywhere near the profile of a Snowflake or a Unity I’m afraid.

1 Like

I do agree that would be a nice touch to the platform.

It’s got to be added at some point, Trading 212 is head and shoulders above the competition in the UK, this seems like the kind of massive feature they would add at some point. Extended hours trading is big in America, I’m rather jealous

You’re joking right?
IB are now in Europe and wipe the floor with every other broker there is. I have an IB account but not yet funded it yet. It can be 10 per month or the greater of commissions. This would likely be offset by the out of hours trading and access to every marketable security on the planet, on any exchange.
The free commission is a pull factor to T212. But I’m also aware I’ve missed out on a lot of profits by not having access to certain markets, or being unable to trade out of hours. And the T212 UI is like something designed by a 5 year old.
T212 is good for execution and order entry, that about it.

1 Like

IB has a very ugly interface. T212 may seem childish to some but it’s clear and appeals to the average person - the kind of person who has been signing up to T212 in ever-increasing numbers lately. T212 also gets better at adding lesser known stocks all the time, though I grant you, this is something I’d like to see T212 improve upon. However once T212 adds extended hours trading, I fail to see what real advantage IB has over it

1 Like

Also T212 have said they plan to add every stock from the exchanges they have. No more requesting stocks, it’ll be requesting exchanges.

2 Likes

Until it happens…
Also, we badly need out of hour trading. We are at a huge disadvantage without this around earning releases and so on.

Yeh i think this would be very handy!