All along, I have naively displayed "Last Traded Price" and used it for all computations in StocksCafe without much consideration. That is until recently, when a user brought to my attention the difference between "Last Traded Price" and "Close Price". This led me to spend time learning about it and ultimately switch to using "Close Price" in StocksCafe instead.
Close Price vs Last Traded Price
Most of the time, the Close Price and Last Trade Price is the same. However, these two values could differ in some situations.
1) When the last traded price occurred several hours or even maybe several days ago. This usually happens for illiquid stocks where the last traded transaction happened quite some time before the closing time.
2) When a large volume of transactions happened just before the market close. Should the very last traded price be the close price? What if it is different ......