RE:RE:RE:RE:RE:Delusional!rico, the exchanges try to keep investors aware of things that affect the stock price, not everything, but some things.
They make adjustments to closing prices for dividends, stock splits and .....given those are factual events, the exchanges adjust. Exchanges also adjust your price downward for a limit orders and I believe on some of the options information as well.
Adjusting for things like production, hedges and daily earnings, exchanges have no factual data.
You don't seem to be aware of what closing adjustments are and mean when asking how exchanges "
think that they should adjust anything to do with the SP of a company". rico91 wrote: I can't believe that you actually believe what you are saying!
First, I am fully aware of what " adjusted closing price " is and means.
Why does the exchange think that they should adjust anything to do with the SP of a company? I thought that was the job of investors! If a company drills a couple of dry wells or has bad hedges, does the exchange rush in and arbitrarily " adjust " their SP down accordingly??
What about all of the money that TOU makes every day that is over and above what they had when they made the divy adjustment??
Should the exchange now be " adjusting " the SP up to reflect this increase in cash??
The job of the exchanges is to run an efficient trading platform not to
" adjust" SP as they see fit.
As you said yourself, " the first trade at open is going to dictate market price"
Exactly!
Rico