Re: How much of a stock can you buy before you start effecting its pri
3% of ADV is very small.
I would not spend any time thinking about the market impact until/unless you consider trades >10% of ADV.
(Note that you should be careful how you are measuring ADV. If you do something simple like just averaging the last 30 trading days, you can get a misleading result. Like maybe the stock had a major news day and traded $10M when it usually only trades $100K. If you just average you'll get an ADV of $430K. So you might think that $50K trade is no problem. But if it's a "regular" day and the stock is only trading $100K, you'll get hurt a lot trying to trade $50K. It's better to use a median instead of an average.)
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