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Technology Stocks : Dallas Semiconductor: Time to Buy
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To: B.G. Galbraith who wrote (116)4/15/1998 8:15:00 PM
From: Toby Zidle  Read Replies (1) of 160
 
B.G., here's a quick explanation. DS is traded on the New York Exchange (NYSE), which closes for trading at 4 p.m. ET. Just because NYSE is closed, however, doesn't mean you can't buy or sell the stock. Trades will often occur on the Pacific or other exchanges with later hours or via Instanet, a computerized market.

When shares are unavailable for after-hours trading, generally there is a large order imbalance (too many buys or sells) to be resolved before a trading price can be agreed upon. It's also possible, as in the announcement you quoted, that a news story is pending and no price can be agreed upon until the news is released.

This is a bit of oversimplification but I think you can get the general picture.
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