First, a market cap of 100 mil is very small.
Second, regardless of the market cap:
- What is the number of shares issued?
- Out of the above number, take out the shares owned internally
- Then take out the shares owned by institutions
- The remaining shares are potentially traded, but only if the owners want to sell or someone wants to buy.
- Then comes matching buyers with sellers at a specific price, and matching number of shares if the orders are “all or none”.
If you consider all the above, you may appreciate why it can take days not hours for your order to be executed.