The stock price posted after hours was 20.35. I tried to buy shares at this price, remembering the results the last time it was attacked after hours, and my bid expired...even though I posted a limit of 20.5. What happened?
For what it's worth, another poster on the IV board had this to say:
This was a forced sale by a brokerage house on a day trade reg T call. In other words a forced sale that has no basis is the "real" market for VHC. The back office could care less where the trade executes so they put in a market order for the amount of shares they need sold to be in compliance and in the AH market with no liquidity the one MM who has not yet left for the Hammptons requires the PPS to go down a few points to get the market order filled thus making it worth his while to be the last guy in the jacuzzi that night in BridgeHamptom.
Hope that helps, AH is the wild west and most often the "real" NY market will open the exact opposite, nice headfake always. The PM and AH is like a prison without and Guards. Stay with 930-4.
Thanks for clearing the air. Several around here need to understand how the market functions rather than looking under rocks for conspiratorial explanations. You made it clean and simple, even for them.
In VHC, you'll sometime see some crazy crap. A couple of weeks ago, VHC dropped $2 after hours on 100 and 200 share blocks...it was ridiculous. The next day's trading was back to normal and if I recall, VHC closed slightly green.
In my opinion, it's just some market makers playing games to see if there is any volume out there and if so, at what level. Typically (with VHC) the following trading day is business as usual.