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A friend of mine bought 2000 shares of IOM at $12.25. He put in a stop
loss. Because of a 2 cent dividend loss, the stock dropped to about $8.00
in one day and he lost about $8000. The thing I don't understand, is that
it was traded after hours. My friends stop-loss was useless.
Can someone verity this? Can stocks be traded after wall street has closed
for the day? Is the stop-loss only good during market open hours?
I can't seem to find anyone in my area who knows about after hours
trading.* I thought all trading stopped after the market closed. It does
seem a bit shady if it is true. It gives someone somewhere a big advantage.
Regards
Zane Koir
Abilene, Texas
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