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I am trying to understand the precencehow limit orders are fulfilled.
Example: Let's say on a given day only Alice and Bob send a sell order for Apple stocks.
- Alice, sell APPL at least: 450
- Bob, sell APPL at least: 500
Joe sends a buy bid of at max: 550, now what happens? Does Joe get Alice or Bob's share, and at what price?
P.S. the latest selling price of APPL is irrevelant I guess, since there are only two sellers.