On Friday (04-27-2018), I set limit price of $1,627 to sell my Amazon stock around 8 am. When I checked around 10:30 am, I had a notification (Robinhood app) that my order was executed for $1,653! Awesome! But later when I checked to see how high did the stock price had gone, to my surprise, the highest price was around $1638. Can anyone explain how the stock got sold for the price higher than that's on the record?
Daily market data reflects trading during regular market hours. AMZN opened at $1,634.01 and climbed to a high of $1,638.10 before trailing off and closing at $1,567.39
It was a different story during pre-market trading. The high of almost $1,660 printed just before 9 AM and I would assume that's about when your order was executed. Check for time and sales on your execution confirm.
Here's a graph of AMZN for 4/26 to 4/27 that includes pre and after market trading:
In addition to the point about market data reflecting trading activity during normal market hours, note that Robinhood may allow trading outside those hours. Per Robinhood's Extended Trading Hours support page:
With extended hours trading, you’ll be able to trade:
- Pre-Market opens 30 minutes earlier starting at 9:00AM EST
- After-Hours continues for 120 minutes (2 hours) until 6:00PM EST
So, traders with this service can execute trades as early as 9am. Since your limit price was met/exceeded at that time, you got the corresponding pre-market price (or quite close to it)