From Danny Rain DDS, Sudbury ON, Canada
When you place an order for any security before the market opens on Monday mornings, is it a “Market or Limit” order?
Market orders are filled immediately at the ask level of the bid/ask price when the stock market opens.
Depending on what you request (the number of shares, the dollar amount you want to buy or sell at, the length of time for your order execution), limit orders can take a very long time to fill if they get filled at all. With thinly traded companies, the bid/ask spread, one of your costs, whether you are buying or selling, can be very large.
With heavily traded companies, for example NVAX or SPY, market orders are safe. The job gets done allowing you to focus on other things.