Late trading in the US Legally, funds in the US are required to stop accepting new purchases and sa...
Late trading in the US Legally, funds in the US are required to stop accepting new purchases and sales at 4pm when markets close. Funds are priced once a day, at 4pm. Any orders placed after that time are supposed to be assigned a share value based on the following day's closing price. However, some groups have allowed investors, such as hedge funds, to trade after hours on the same day's price benefiting from any news that breaks after the markets are closed, which will lead to a large swing in prices when the markets re-open. This allows such late traders to make profits at the expe...
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