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Im trying to dumb down stock pricing. Let’s say there is only ONE stock on only ONE exchange. You can see ask and bid list and also finalized trade list.

Now, if you would show the current price or value of the stock, would you just grab the latest finalized trade? Or would you take the value of the closes unfilled orders (where ask and bid „touch“)? Or maybe a combo? Something else?

How would you value the stock?

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    What are you trying to do? Another way is to use the midpoint between the bid and ask. Another issue is how many shares you are trying to value. For example, if you want to sell a few million shares, but the bid size is only a few thousand shares, you will not be able to liquidate your position at the bid price.
    – Flux
    Commented Oct 19, 2022 at 9:02

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The last price is just that, the last price at which the stock traded. For an illiquid stock, it's possible that it may have no relevance to the current price of the stock.

If you are long the stock or you intend to short the stock, it's saleable price is the current bid price.

If you are evaluating a potential purchase, then the ask price is your number.

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