A few years ago a phony news release sent EMLX plunging close to 60% by the time the stock was halted and reopened close to the prior days close -- My question is whether anyone remembers if the trades that went thru prior to the halt and post hoax were broken or honored??? EDIT; if anyone has any links to articles where it states how this was handled it would be greatly appreciated... TIA PEACE and good-trading, Commisso
they were not broken. i got something like 60 points when it reopened.only couple hundred shares tho.it was halted in the 60s and reopened hi 120s if i remember right.
Vhen, Thanks for responding. I remembered that they were halted and then reopened back around where they closed out the day prior, but could not remember whether the trades in between were honored... Thanks alot for your help... If anyone else thinks they remember it another way, then by all means please respond or post a link... PEACE and good-trading, Commisso
http://www-snde.rutgers.edu/Rutgers/Econ394/emulex_hoax.html http://www.fool.com/news/2001/emlx010102.htm Peace, Bro.
i remember vividly i was at broadway trading and someone on my floor was buying the whole way down when it finally got halted he was long close to 11 thousand shares and down close to 150 thousand it was pure luck they reopened it in the afternoon and he made close to 3/4 of a MILLION . and someone else was short and got killed it seemed very unfair to halt the stock do everything right and get screwed trade like an idiot and make a killing and all trades stood