What is the difference between market orders in dollars and market orders in shares?

This is best explained with an example:

•Suppose it’s 6 PM ET, the market is closed, and Google ended the previous day at $100 per share.
•Moe places a market order in dollars for $100.
•Leila places a market order in shares for 1 share.
•The next morning, the stock opens at $110 per share. (U.S. markets have after-hours and pre-market trading sessions that can affect the share price available to Raseed’s prime users.) Both Moe and Leila’s trades are executed at 9:30 AM ET.
•Moe receives 0.909091 shares for his $100. Leila receives 1 share for her $110.

This illustrates the difference between market orders in dollars versus market orders in shares: the method you choose affects the number of shares you receive when prices change outside regular market hours.

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