Open a few screens on a Saturday and a single large stock can show four different prices. Your brokerage account shows one. The stock token shows another. A pool may show a third. The perp shows a fourth. None is a mistake. They come from four markets, and a holder should know which is which.
Price one: the close
This is the last regular trade from Friday, at 4:00pm ET. It came from the deepest market of the four, by a wide margin. It is also the oldest number on the screen. It tells you where the stock was. It cannot move until the market reopens.
Price two: the stock token’s quote
Robinhood publishes a live bid and ask for each of its stock tokens. During market hours the two sit close together. Outside market hours the quote goes wide.
How wide is the important part. On Sunday 4 October 2026 AMC had closed near 2.80. Its token quoted a bid of 2.72. The ask was 11.80. The midpoint of those two came to 7.26, far above the close, and the stock had not traded. A wide quote is not a price covers this case. A wide quote says the market maker does not want to trade right now. Its midpoint is arithmetic.
Price three: the on-chain pool
A few stock tokens also trade in on-chain pools. A pool prices all week, because a pool has no hours. Where a pool exists and has depth, its price is a real weekend reading. People swapped at it.
Most stock tokens have no pool deep enough to price. A shallow pool can show almost any number, because a small trade moves it. So check depth before trusting a pool price.
Price four: the perp
Perpetual contracts on the large stocks trade around the clock on Hyperliquid. The perp’s mark price is what the contract trades at. It holds no shares and settles in a stablecoin. On a large name it is generally the most active of the weekend markets. Stock perps, explained covers the instrument.
The same stock can be listed on more than one book there, each with its own price. That can add a fifth number. They are separate markets.
How to weigh them
Ask of each number: did anyone trade at it, recently, in size?
The close passes on size and fails on recency. The wide token quote fails outright, since nobody traded at its midpoint. The pool price passes only where the pool is deep. The perp passes on recency and on activity, though its market is small beside the stock’s.
So on a weekend the perp is usually the reading to look at, taken as a market price on another venue. It is not a statement about Monday. The implied open explains why NoVo measures a perp only against its own price at the close and never against the stock’s.
Where NoVo puts them
The Stocks On-Chain tab on the Crypto Market Map shows each token with its pool price beside the quote. A token price that is not the live midpoint is marked with an approximately sign. The perps are listed on the same tab with mark, premium, funding and open interest. The four prices are laid out together and labelled for what they are.