A stock's closing price is simply the last trade before its exchange shut for the day. News keeps arriving after the bell, and when trading starts again the first price can land some distance away from where the last one stood, because buyers and sellers have had a whole night to change their minds.
On an ordinary daily chart that jump appears all at once, at the open, as an empty space between two candles. The problem gets harder to ignore when a version of the same share keeps trading through the night and the weekend, because now the move happens in public while the exchange is dark.
Tokenized shares work that way. A token that tracks a share is priced by its own buyers and sellers on the platforms that list it. The company that issues the tokens only creates and redeems them on US business days, so the link back to the real share tightens again when the exchange reopens.
For Amazon, that token is tokenized Amazon (AMZNX), which BloFin lists as the AMZNX/USDT Spot pair, alongside the AMZNUSDT Perpetual, a contract that follows Amazon's price with leverage. Both trade on weeknights while Nasdaq is closed, both have traded through recent weekends, and both meet Nasdaq's price again at the open.
What is a price gap on AMZNX?
A price gap on AMZNX is the difference between where tokenized Amazon trades while Nasdaq is shut and where Amazon's shares open when Nasdaq reopens. A gap up means the share opens above its last official close, and a gap down means it opens below. The token moves during the break, then meets the open.
In ordinary stock trading, a gap is a price range in which no shares traded, and it usually opens between one day's close and the next day's open. It forms when buying or selling interest builds while the market is closed (source: StockCharts ChartSchool). Amazon's shares can have that gap every morning, because Nasdaq's official close at 4:00 p.m. Eastern time and its official open at 9:30 a.m. are separate prices.
With a token in the picture, three prices matter instead of two. The first is Nasdaq's official close. The second is the AMZNX price during the break, which moves whenever BloFin traders buy or sell. The third is Nasdaq's next official open, which is the price the share actually reopens at.
Say you watched the weekend of September 18 to 21, 2026. Amazon's shares closed on Friday at $253.71 (source: Yahoo Finance AMZN history). On BloFin, AMZNX traded between 252.34 and 256.33 USDT over the weekend and stood at 254.93 USDT at 9:00 a.m. Eastern time on Monday, half an hour before the bell. Nasdaq then opened Amazon at $256.40, a gap up of 1.06% (source: Yahoo Finance AMZN history).
So by Monday morning the token had moved up, and in the right direction, but it had covered less than half of the distance to the open. Anyone who sold AMZNX at 9:00 a.m. that Monday sold below the price the share opened at half an hour later.
What sets the AMZNX price while Nasdaq is closed
While Nasdaq is closed, the AMZNX price comes from the buyers and sellers on BloFin's order book, who can take their cues from Amazon's after-hours and pre-market trading when those sessions run. The issuer's route for creating and redeeming tokens follows US business days, so the strongest pull back to the share price comes at the open.
The documentation for xStocks, the family of tokenized shares AMZNX belongs to, says the tokens can trade around the clock on secondary markets, depending on the platform, and that the price there is set by supply and demand on each platform. Issuance and redemption by minters and redeemers are limited to business days when the US market is open (source: xStocks FAQ).
Tokens are created and removed at the prevailing market price of the underlying share, and the documentation says that process supports price alignment between the token and the stock (source: xStocks issuance and redemption). When a token trades above the share, a firm that can create tokens has a reason to buy shares and sell new tokens, and the reverse applies below. That route is called arbitrage. At a weekend it waits for Monday. BloFin's guide to what tokenized Amazon is and what you own covers the structure behind it.
Nasdaq's own extended sessions still give the token something to follow on weekdays: pre-market trading from 4:00 a.m. to 9:30 a.m. and after-hours trading from 4:00 p.m. to 8:00 p.m. Eastern time. Nasdaq warns that those sessions carry less liquidity, so prices move more (source: Nasdaq trading hours). BloFin's hourly prices show where AMZNX moved most.
Window, June 1 to September 25, 2026 (Eastern time) | What Nasdaq is doing | Average AMZNX move in the window |
|---|---|---|
4:00 p.m. to 8:00 p.m. on weekdays | After-hours session | 0.31% |
8:00 p.m. to 4:00 a.m. on weekdays | Closed | 0.28% |
4:00 a.m. to 9:00 a.m. on weekdays | Pre-market session | 0.51% |
Friday 8:00 p.m. to Sunday 8:00 p.m., longer over holidays | Closed | 0.62% |
The token moved most in the pre-market hours, when Nasdaq's early trading gives BloFin traders a fresh reference, and over whole weekends, when news builds up with no session at all.
How big Amazon's price gaps were in 2026
Across 80 breaks from June 1 to September 25, 2026, Amazon's shares opened an average of 0.83% away from the previous official close, with weekend gaps averaging 1.04% and weekday overnight gaps 0.78% (source: Yahoo Finance AMZN history). Twenty-six of the 80 gaps were 1% or more, and each break had AMZNX trading on BloFin throughout.
A break runs from one official close to the next official open, and Amazon's July 30 results night is left out of these averages, because a results release moves the share far more than an ordinary night.
Break type (June 1 to September 25, 2026) | Breaks | Average gap at the open | Gaps of 1% or more | AMZNX moved the same way by 9:00 a.m. ET |
|---|---|---|---|---|
Weekday nights | 64 | 0.78% | 19 | 55 of 64 |
Weekends | 13 | 1.04% | 6 | 13 of 13 |
Holiday breaks (Juneteenth, July 3, Labor Day) | 3 | 0.98% | 1 | 3 of 3 |
Weekends produce bigger gaps for a simple reason: more hours pass with no Nasdaq session, so more news collects before the open. Those are also the hours when AMZNX is priced by BloFin traders alone, with no Nasdaq trade to lean on. The token did move the same way as the weekend gap on all 13 Friday-to-Monday weekends from June 1 to September 25.
Most of those gaps are small next to what Amazon can do in a single session. The news that causes the bigger ones is the kind BloFin's guide to what moves Amazon's stock price sorts through.
Say you hold 20 AMZNX worth about 5,000 USDT at a weekend. An average weekend gap of about 1% is a swing of around 50 USDT between Friday's close and Monday's open. The largest of the 80 gaps, a fall of 3.51% on the morning of July 23, would be about 175 USDT on the same holding.
How much of the gap AMZNX moved before the open
AMZNX usually moves most of the way toward Nasdaq's next open, but not all of the way. On the 26 breaks with a gap of 1% or more, the token had moved in the right direction every time, typically about four-fifths of the distance. Across all 80 breaks from June to September 2026, the typical distance left was 0.29%.
That 0.29% is the median distance between AMZNX on BloFin at 9:00 a.m. Eastern time and Nasdaq's official open. On 23 of the 80 breaks the two were half a percent or more apart (source: Yahoo Finance AMZN history). Five breaks from June to September show the range, from a token that had almost priced the open to one that moved while the share barely gapped.
Break | Nasdaq close | AMZNX at 9:00 a.m. ET | Nasdaq open | Gap at the open | Share of the gap the token had moved |
|---|---|---|---|---|---|
Fri Jun 12 to Mon Jun 15 | $238.55 | 243.38 USDT | $245.02 | +2.71% | 75% |
Wed Jul 22 to Thu Jul 23 | $244.85 | 238.11 USDT | $236.26 | −3.51% | 78% |
Fri Sep 11 to Mon Sep 14 | $256.78 | 253.78 USDT | $253.15 | −1.41% | 83% |
Fri Sep 18 to Mon Sep 21 | $253.71 | 254.93 USDT | $256.40 | +1.06% | 45% |
Wed Jun 10 to Thu Jun 11 | $238.00 | 239.74 USDT | $237.93 | −0.03% | token up 0.73% while the share opened flat |
The June 10 to 11 break, when the token rose 0.73% and the share opened flat, matters as much as the others. The token can move on thin trading and still be wrong when the share opens, which is why the weekend price reads as an estimate of Monday's open. It is BloFin traders' best guess, made with less information than Nasdaq has at the bell.
Results nights stretch the same pattern. Amazon filed its second-quarter results with the Securities and Exchange Commission (SEC) at 4:06 p.m. Eastern time on July 30, 2026, just after Nasdaq's close (source: SEC filing record). The next morning its shares opened 12.53% higher (source: Yahoo Finance AMZN history). On BloFin, AMZNX had already risen 10.79% from that close by 9:00 a.m., still 1.57% short of the open. BloFin's guide to Amazon's earnings reports explains what those releases contain.
Say you hold 10 AMZNX on Friday, September 11, 2026, and decide on Monday morning to sell. At 9:00 a.m. the token stands at 253.78 USDT, so your 10 tokens are worth about 2,538 USDT. Nasdaq then opens the share at $253.15, and the token was already close to it. On September 21 the same decision would have sold about 1.5 USDT a token below the open.
Weekend and holiday gaps on AMZNX and the AMZNUSDT Perpetual
At weekends and on US market holidays, Nasdaq is closed for a full day or more, yet AMZNX and the AMZNUSDT Perpetual traded on BloFin in every hour of every such break from June to September 2026. BloFin describes xStocks markets as open on weekdays only, and says the perpetual may accept only closing orders at weekends and on holidays.
BloFin's xStocks risk disclosure, dated August 20, 2025, describes xStocks token markets as open 24 hours a day on weekdays only (source: BloFin xStocks risk disclosure). Both markets have traded through recent weekends all the same, so the AMZNX price keeps moving on weekend news while the share cannot. On the perpetual, BloFin may limit stock futures trading at weekends and on US market holidays to reduce-only orders, which can only close or shrink a position (source: BloFin stock futures trading update). You can cut a leveraged position before the Monday gap, but a new one may have to wait for Nasdaq's regular session.
Holiday breaks run longer than an ordinary weekend, and the three this summer each lasted nearly four days (source: Nasdaq trading hours). The token behaved differently in each one.
Holiday break, 2026 | Nasdaq close before | AMZNX at 9:00 a.m. ET after | Nasdaq open after | Where the open landed |
|---|---|---|---|---|
Juneteenth (Thu Jun 18 to Mon Jun 22) | $244.39 | 243.08 USDT | $240.08 | 1.23% below the token |
Independence Day, observed (Thu Jul 2 to Mon Jul 6) | $242.67 | 244.56 USDT | $243.80 | 0.31% below the token |
Labor Day (Fri Sep 4 to Tue Sep 8) | $258.51 | 255.88 USDT | $256.68 | 0.31% above the token |
Juneteenth shows how a gap can land after a quiet holiday. On BloFin, AMZNX drifted only 0.54% lower over nearly four days. In the hour that contained Nasdaq's open, the token fell from 243.08 to 239.47 USDT on about 4,000 tokens of volume, over forty times the hour before. That morning, Nasdaq had opened the share 1.76% below its last close (source: Yahoo Finance AMZN history). Over Labor Day the token went the other way and overshot, falling further than the share opened.
Say you hold AMZNX over Thanksgiving, when Nasdaq is closed on Thursday, November 26, and closes early on Friday, November 27 (source: Nasdaq trading hours). Expect the same shape: a price set by BloFin traders through the break, and a catch-up when Nasdaq trades again. Selling into that catch-up, or buying ahead of it, pays the spot fee on AMZNX/USDT for your account tier, listed in the BloFin fee schedule.
Trading halts and circuit breakers on Nasdaq
A trading halt stops Amazon's shares mid-session, and it works like a short unplanned close. A limit up-limit down pause stops a single stock for five minutes when it moves outside a set band. A market-wide circuit breaker stops every US stock after a steep fall in the S&P 500. Both apply only in regular hours.
The limit up-limit down rule, often shortened to LULD, sets a price band around each stock's average price over the previous five minutes. If the price reaches the band and stays there for 15 seconds, trading in the stock pauses for five minutes, and the rule applies from 9:30 a.m. to 4:00 p.m. Eastern time (source: Investor.gov, stock market circuit breakers).
Amazon is in the S&P 500, so it is a Tier 1 stock under the LULD Plan, with a 5% band until 3:35 p.m. that doubles in the last 25 minutes of the session (source: LULD Plan). Market-wide circuit breakers trigger at falls of 7%, 13% and 20% in the S&P 500. Levels 1 and 2 halt trading for 15 minutes if they hit before 3:25 p.m., and Level 3 closes the market for the rest of the day (source: Investor.gov, stock market circuit breakers).
For an AMZNX holder, the point is that Nasdaq's reference price can stop even in the middle of a weekday, and when the share restarts, the token has to meet its new price, exactly as it does each morning.
Say Amazon's five-minute average price is $250.00 at 11:00 a.m. The LULD band runs from $237.50 to $262.50. If bad news pushes the share to $237.50 and it stays there for 15 seconds, Amazon pauses for five minutes. A Level 3 circuit breaker would be larger still: it ends US trading for the day, which turns an afternoon into an unplanned overnight break.
The USDT and USD prices of AMZNX
AMZNX trades in USDT, a stablecoin meant to hold one US dollar, while Amazon's shares are priced in dollars. BloFin's AMZNX/USDT trading page shows the token's USDT price beside a USD price, and the two differ slightly because one USDT is not always worth exactly one dollar. That small difference is part of every comparison between the token and the share.
BloFin's risk disclosure lists changes in exchange rates between currencies among the factors that can affect your profit or loss (source: BloFin xStocks risk disclosure). BloFin's guide to stablecoins as quote assets explains how a USDT quote works.
The basis, the difference between the token's price and the share's, is small next to a typical gap. Over the 80 breaks from June to September 2026, AMZNX's last trade on BloFin before Nasdaq's close sat an average of 0.07% above Amazon's official close, which mixes the USDT rate with the token's own premium. An ordinary overnight gap averaged 0.78%, more than ten times as much.
The perpetual adds another layer. BloFin's stock futures are based on a basket of tokenized stock indices already circulating in the market (source: BloFin stock futures trading update). On BloFin the two have stayed close: at 9:00 a.m. Eastern time before each of the 80 opens from June to September 2026, AMZNUSDT sat a median 0.06% from AMZNX, and never more than 0.26%.
Say you compare AMZNX at 250.00 USDT with a Nasdaq price of $250.00 while one USDT is worth $0.9997. The token is then worth about $249.93, so 0.03% of the apparent difference comes from the currency alone. At that rate, the difference on a 10-token holding is about 0.8 USDT.
How Nasdaq's 23-hour trading day would change AMZNX gaps
Nasdaq's planned night session, from 9:00 p.m. to 4:00 a.m. Eastern time and expected from Sunday, December 6, 2026, would leave only a one-hour daily pause on weekday nights. The overnight half of AMZNX's gap would then mostly shrink, while weekend and holiday breaks would stay.
Nasdaq's FAQ says trading will run from 9:00 p.m. on Sunday to 8:00 p.m. on Friday, with a daily pause from 8:00 p.m. to 9:00 p.m. The change is expected on December 6, 2026, pending the readiness of the consolidated US price feed and any SEC rule changes (source: Nasdaq Global Trading Hours FAQ). The SEC approved Nasdaq's rule change on April 10, 2026 (source: SEC Release No. 34-105199).
If the launch goes ahead as planned, AMZNX would then trade with no Nasdaq session for one hour on weeknights, from 8:00 p.m. to 9:00 p.m. Eastern time, where today it trades alone for eight hours, from 8:00 p.m. to 4:00 a.m.
Two things would not change. Nasdaq says the 9:30 a.m. to 4:00 p.m. session will continue to set the prices, so a gap between the official close and the next official open still exists (source: Nasdaq Global Trading Hours FAQ). Weekends would still bring roughly two days with no session.
Holidays change a little. If a US exchange holiday falls from Monday to Thursday, Nasdaq plans to start trading at 9:00 p.m. on the holiday evening. US Labor Day always falls on a Monday, so after the change the token would trade alone only until 9:00 p.m. that evening: 73 hours from Friday's 8:00 p.m. finish, against 80 today, when Nasdaq next trades at 4:00 a.m. on Tuesday (source: Nasdaq Global Trading Hours FAQ).
The night session would also carry price limits. On August 5, 2026, the SEC approved temporary price bands for the hours from 9:00 p.m. to 4:00 a.m., with no automatic trading pauses (source: SEC Release No. 34-106042). The bands sit 20% below the lower and 20% above the higher of two prices: the day's official close and the last trade at 7:45 p.m. Eastern time (source: SEC Release No. 34-106042).
What price gaps mean for an AMZNX position
For an AMZNX holder, a gap means the price you see during a break is BloFin traders' estimate, and Nasdaq's open can move it by a percent or more. For a leveraged AMZNUSDT position, the same move changes your margin, and at weekends you may only be able to close or reduce it.
A limit order sets the worst price you will accept, which helps when the order book is thin during a break, while a market order takes whatever the book offers. In the three weeks to September 27, 2026, AMZNX traded on BloFin about 150 tokens an hour on Saturdays and Sundays, Eastern time, against about 385 an hour from 10:00 a.m. to 4:00 p.m. on Nasdaq trading days.
On the perpetual, AMZNUSDT offers leverage from 1x to 20x (source: BloFin AMZNUSDT contract details). A 3.51% gap on a 10x position is a 35% move on your margin, and BloFin's guide to trading Amazon with leverage sizes a position with that in mind.
A sharp move at Nasdaq's open can also push a leveraged position past its liquidation price, which BloFin's guide to leverage and liquidation explains step by step.
If you would rather follow an experienced trader's AMZNUSDT positions, AMZNUSDT is among the contracts available for futures copy trading on BloFin, and copy trading explained covers how that works. A copied position carries the same gap risk as your own.
How the token is held and backed is set out in the guide to whether tokenized Amazon is safe, and the choice between AMZNX and the AMZN perpetual turns partly on how you want to hold through a break.
Say you hold 10 AMZNX on a Friday and want to keep them through the weekend. You could leave them alone and accept Monday's open, or place a limit sell at a price you are happy with and let the order book come to you. Either way, check the token again on Monday before 9:30 a.m. Eastern time, because that is when the gap is settled.
Looking to gain exposure to Amazon? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the AMZNX/USDT Spot trading page or AMZNUSDT Perpetual page.
Frequently asked questions
What is a gap fill in stocks?
A gap fill is when the price later returns to where it stood before the gap, though the old saying that every gap gets filled does not always hold (source: StockCharts ChartSchool). From June 1 to September 25, 2026, Amazon's shares returned to the previous close in the same session after 48 of 80 opening gaps, about 60%. Larger gaps filled less often: 13 of the 26 gaps of 1% or more (source: Yahoo Finance AMZN history). On BloFin, AMZNX reached the previous close between 10:00 a.m. and 4:00 p.m. Eastern time on 42 of the 48 days.
Is a gap up bullish?
A gap up shows that buyers were willing to pay more at the open than at the last close, and it says little about the rest of the day. On Amazon's record from June 1 to September 25, 2026, there were 13 gap ups of 1% or more, and the share closed above its opening price on 7 of them (source: Yahoo Finance AMZN history). On August 5 it gapped up 1.50% and closed 3.17% below its open, while on August 3 it gapped up 2.47% and added 2.06% more (source: Yahoo Finance AMZN history).
Does Amazon stock gap up more often than it gaps down?
Only slightly. From June 1 to September 25, 2026, Amazon's shares gapped up after 41 of 80 breaks and down after 39, and the average gap down was a little larger, 0.87% against 0.80% (source: Yahoo Finance AMZN history). The token pointed the right way more often before gap ups than before gap downs. On BloFin, AMZNX stood above Nasdaq's last close at 9:00 a.m. Eastern time before 39 of the 41 gap ups, but below it before only 32 of the 39 gap downs. Seven gap downs therefore came with the token at or above that close.
Can a stop-loss on AMZNX trigger while Nasdaq is closed?
A stop on the AMZNX/USDT pair acts on the token's own trades on BloFin, which carry on while Nasdaq is closed, so it can trigger before the share has opened. Say you had kept a stop 1% below each official close from June 1 to September 25, 2026. Before 15 of the 80 Nasdaq opens in that period, AMZNX traded through it by 9:00 a.m. Eastern time, and on 4 of them Nasdaq then opened above your stop, as it did on September 8, after Labor Day. BloFin's stop-loss guide compares the order types a stop can use.
Does the AMZNUSDT Perpetual gap the same way as AMZNX?
The AMZNUSDT Perpetual ends a break about as far from Nasdaq's open as AMZNX does. From June 1 to September 25, 2026, the typical distance between AMZNUSDT on BloFin at 9:00 a.m. Eastern time and Amazon's official open was 0.29%, about the same as for the token. Before the July 31 open, after Amazon's results, BloFin's AMZNUSDT Perpetual stood at 261.67 USDT. The share then opened at $265.00, about 1.3% higher (source: Yahoo Finance AMZN history). On a leveraged position, that last step arrives all at once.
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. All facts independently verified. Primary sources include BloFin's hourly AMZNX/USDT and AMZNUSDT prices, BloFin's xStocks risk disclosure, stock futures trading update and AMZNUSDT contract details, Nasdaq's official opens and closes via Yahoo Finance, the xStocks FAQ and issuance documentation, Nasdaq's trading hours page and Global Trading Hours FAQ, SEC Releases No. 34-105199 and No. 34-106042, Amazon's July 30, 2026 SEC filing, Investor.gov, the LULD Plan and StockCharts ChartSchool, current as of September 28, 2026.
Nothing in this article constitutes financial advice, and nothing in it is a recommendation to buy, sell or hold Amazon in any form. A price you see on AMZNX while Nasdaq is closed is an estimate, and the share can open well above or below it. A sale during a break can land far from Monday's price, and a stop order can fill past its level. On the AMZNUSDT Perpetual, an opening gap moves your margin by the gap times your leverage, and outside regular hours BloFin may accept only orders that reduce a position. Past performance does not indicate future results. Do your own research and consider your risk tolerance before you trade on BloFin.