An order to execute a transaction to buy or sell a stock at its prevailing price is called a

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A market order is an order to buy or sell a stock immediately at its current market price. It guarantees execution but not the price at which the transaction will be executed. A limit order specifies a certain price at which to buy or sell a stock, while a good till cancelled order remains in effect until it is executed, expired or cancelled. A stock order is not a specific type of order.

An Order to Execute a Transaction to Buy or Sell