Weird thing today. I put in a market order to cover some shares of a short position, and after it didn't go through, I called my broker to find out what was going on. I was told there was a temporary halt issued by Nasdaq due to volatility. It's a very sparsely traded stock of late. When I checked the volume after my order finally went through, I saw there were only 740 shares traded (500 of which came from my order). What I don't get is how a stock with 6.9 million shares and a 4 million+ float could be halted for volatility with just 240 shares traded. How is that even possible?
http://nasdaq.cchwallstreet.com/NAS..._1_1_4_1/default.asp&selectedNode=chp_1_1_4_1 If the prints are too far apart theirs reason for a pause.
The bid/spread is quite large - $.40 Oddly enough though, my order didn't move the stock at all. It's CNFR btw
There's a matching period during the halt, just like at the open, I believe. So your order would not move anything but would be opportunity for someone willing to take other side.
I don't know where you sent the order, but theoretically, it's possible that your order was front run and moved the market.
Are you saying it moved it up before it even went through? I'm not sure I quite understand. The stock had dropped before the pause and then came out of the pause back up again.