Ask what a stock token is worth and there can be two answers. One is the quote Robinhood publishes. The other is the price in an on-chain pool, where the token has one. They come from different mechanisms and they fail under different conditions. Reading a stock token well means knowing which one is in front of you.
The quote
The quote is a bid and an ask. The bid is what a buyer is shown as willing to pay, and the ask is what a seller is shown as willing to accept. The usual single price is the midpoint between them. A general account is in the bid-ask spread explained.
A quote is at its best when the stock market is open. Outside market hours the quote goes wide, and a midpoint between two distant numbers describes neither. On Sunday 4 October 2026 about a third of the tokens had spreads over 10%.
The pool
A pool is a contract that holds two assets and trades one for the other by formula. Its price is the ratio of what it holds. A buy takes tokens out and puts the other asset in, which raises the price for the next buyer. The mechanism is laid out in how an AMM prices a token.
A pool has no hours. It prices the token on a Sunday as readily as on a Tuesday. Its price is the last trade’s footprint, though, and its quality depends on depth. In a deep pool a normal order barely moves the price. In a shallow one a small order moves it a long way, and the figure left behind says more about that order than about the stock.
Why they differ
The two prices answer to different people. The quote answers to whoever is making it. The pool answers to whoever traded against it last. During market hours there is a live stock price for both to lean on. On a weekend the stock has no price, and each mechanism is left alone.
A few stock tokens trade in pools that price them all week. Most have no pool deep enough to price. So for most of the list the quote is the only price, and the comparison does not arise. That case is covered in a stock token with no pool.
Which to believe
Neither by default. Believe the quote when its spread is tight. Believe the pool when it is deep and has traded recently. When both conditions hold, the two prices should sit close together, and a difference between them is worth a look. When one condition fails, the difference is measuring the failure.
The order of checks is simple. Read the spread first. Read the pool’s depth second. Only then read the gap, which pool price above or below the quote takes further.
Where to see it
The Stocks On-Chain tab of the Crypto Market Map shows the pool price against the quote for each stock token that has one. A token price that is not the live midpoint is marked with an approximately sign.