Stocks can be halted for longer than a day. There are no limits in price change and it can make you want to puke. I lost a ton about 2 years ago when after I thought all the news was released on aapl. I shorted 3000 shares...stock was halted and opened up 6 points higher on my ass. I have also seen halts work in peoples favor. I saw a guy buy 1000 elx every 5 points it fell back in 2000. The stock fell over 90 points I think. He ultimately had 24000 shares of the stock when the stock was halted. After the stock reopened his unrealized loss of like $400,000 turned into a gain of over $700,000. Shit was really crazy back then.
Funny you should mention the Emulex (then EMLX) day...I was just trying to pin down the exact date to go look at that chart again, couldn't find it...if you happen to know it please pass it on...thx
A stock has been and can be halted for longer than a day. After being in a shit load of halts in my career you can see the crazy action and learn to stay away.
usually a halt is only for an hour or 2. the halt usually results in a gap up or a gap down do depending on what side of the trade you are in,expect to get some grey hairs. they usually happen before the open or after the close,especially during earnings season. the best thing to do is not buy or short into earnings and not to hold overnight.
Samc i think it is 8/25/00. The stock has split since then but i believe the price at the time was over 100 before the drop.
Yep, 6 fig day back then. Jay hunt killed emlx that day. If you know of jay his hands was always hitting they keys. And the bug eyes.
ELX ---Date Price High Low Volume 8/25/00 105.75 130.00 43.00 11,237,900 Split-Adjusted Price 52.88 Adjustment Factor 2.00:1 --- Yup, that appears to be the day...lets see...87 point range on a 100 dollar stock. It was crazy. Of course the company did end up going way below there...just took more time