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Stock is a part of the ownership of a joint-stock company and a certificate of ownership issued by a joint-stock company. It is a kind of securities issued by a joint-stock company to all shareholders as a holding certificate to raise funds and obtain dividends and bonuses. Stocks are long-term credit instruments in the capital market and can be transferred and traded. With it, shareholders can share the company's profits, but also bear the risks brought by the company's business mistakes. Each share represents the shareholder's ownership of the basic unit of the enterprise. Every listed company will issue shares. Every stock in the same category represents the equal ownership of the company. The share of ownership of the company owned by each shareholder depends on the proportion of shares held by each shareholder to the total share capital of the company.

The daily limit stipulated by the stock exchange is a daily limit of a stock, that is, if a stock falls to the highest price limit of-10% (or -5%), it is called a daily limit.

The daily limit is a term in the securities market. The price limit system originated from the early foreign securities market. It is a trading system in the securities market to properly limit the fluctuation range of each stock on the same day in order to prevent the price from soaring and plunging, curb excessive speculation. It is stipulated that the maximum fluctuation range of the trading price in a trading day is a few percent of the closing price of the previous trading day.

Stock pending order refers to the process of filling in the name, quantity and price of the stock to be bought or sold and submitting it to the trading system for trading, which is called pending order. Generally, securities companies are allowed to entrust the pending orders for tomorrow's trading one night in advance. General securities companies accept the entrustment pending orders for the next transaction after the liquidation of the transaction on the same day. Generally, the time for clearing transactions on the same day is after 9: 30 pm. Note that on the last trading day before Saturday, Sunday or holiday, the securities company may not accept the relevant stock pending orders in the relevant evening, that is to say, it may not accept the pending orders for opening positions on Friday night and next Monday, and these pending orders may not be entrusted until Monday morning.