Average trading volume for GOOG is about 2.5 million shares per day.
InvestorNewb wrote:Suppose he decided to sell all of the shares at once. Would this even be possible? What if there aren't enough buyers?
If he placed an all-or-none limit order with the limit set to a reasonable price, it just flat-out wouldn't execute.
If he placed an all-or-none market order, he would probably sell for a pitifully low price to some brokerage whose automated trading platform had put in a huge low-price order on the astronomically unlikely chance it would actually be filled.
If he placed a non-AON market order, he would sell enough shares to fill all orders at the current bid price, then start filling progressively lower and lower bids, potentially cratering the stock price, but probably all his shares would sell, albeit some at a pitifully low price. If there weren't enough orders already open, I'm sure the automated trading platforms would respond by flooding a ton of low-ball orders.
If he placed a non-AON limit order, shares would sell starting at the current bid price and then dropping until they reached his limit amount.
This is all assuming the exchange doesn't shut down trading due to tripping a circuit breaker.