What type of order should Joan place to liquidate her 100 shares of XYZ at $6,000?

To liquidate her 100 shares of XYZ at $6,000, Joan should place a sell limit order at the price of $60. This type of order specifies that she wants to sell her shares at a minimum price of $60 per share. Since she has 100 shares, a sale at this price would generate a total of $6,000 (100 shares x $60/share).

A sell limit order ensures that the shares will only be sold at her desired price or higher, which aligns with her goal of obtaining at least $6,000 from the transaction. If the market price reaches $60 or exceeds it, the order will be executed. Should the market price fall below $60, the shares would not be sold, thereby protecting Joan from receiving a lower amount than she intends.

Other options like sell stop orders are not suitable for her situation, as they are designed to trigger a market order when the stock price falls to or below a specified level. In Joan's case, where the intention is to secure a specific minimum amount per share, a sell limit order is clearly the best choice.