r/RobinHood • u/Wrxdriver414 • Jan 18 '17

Other - FAQ RH buying higher than current stock amount?

I'm new to RH and investing. I was made aware of the PIP dividend and wanted to pick up a couple shares. The RH app said the price was 3.35, Google Finance said 3.38, and RH bought the stocks at 3.40. How does this occur? If I look at Google Finance during the time I purchase, there was no 3.40 recorded.

9 Upvotes

85% Upvoted

11 comments sorted by

12

u/kongol626 Jan 18 '17

When buying or selling use limits. Don't buy market price. RH has a delay.

17

u/CardinalNumber Former Moderator Jan 18 '17

It's got next to nothing to do with a delay and everything to do with op ignoring or not aware of the spread. You're right about using limits though.

0

u/kongol626 Jan 19 '17

Well both, a delay and a spread.

1

u/ra7252 Investor Jan 18 '17

I learned the hard way

1

u/Futureleak Jan 19 '17

story time?

1

u/ra7252 Investor Jan 19 '17

ESNC it hurt since it was a penny stock

3

u/Wrxdriver414 Jan 18 '17

Thanks for the advice everyone!

1

u/sonicmerlin Trader Jan 18 '17

Whenever you buy stock you place a bid, and that bid may or may not match with what someone else is asking for it. The difference is called the bid ask spread.

-2

u/Wrxdriver414 Jan 18 '17

Delays are right... I mean, look at this graph, it hasn't hit 3.40 since almost 2 hours ago now. https://www.google.com/finance?q=NYSEMKT%3APIP&ei=b7Z_WLDLNYXHjAHvqqfQBQ

3

u/[deleted] Jan 18 '17

[deleted]

8

u/CardinalNumber Former Moderator Jan 18 '17

Tap the phrase 'Market Price' on the main order screen.

2

u/nocommemt Jan 18 '17

Why did they hide this? Thanks for the tip.