Accidental purchase?!?

[herkfsu]

You know the 10,000,000 shares or so on lvl 2 that sit on the bid at $.01. After hours sometimes they are the only shares sitting on lvl 2. What if a retail trader accidentally hit the BUY button and bought the shares. Would this trade go though? If the stock was $100 the trader would instantly be out $100(99.99) per share he bought. Would this happen? Has this happened? Just curious, thanks guys.

 

[ns1000]

I think you've answered your own question - how would he buy them 'after hours' when the electronic system is closed?

 

[herkfsu]

There is still after hours trading.

 

[rawrschach]

I'm pretty sure it has happened, although not necessarily in exactly the way you describe.