Why Stocks Halt: Limit Up-Limit Down Bands
Why do stocks halt? Limit up-limit down bands pause trading for five minutes when price runs past a rolling reference. Here is the machinery, with data.
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GameStop, Jan 28, 2021: $483 to $112 by Noon
Jan 28, 2021: GME printed $483 and $112 in one morning, Robinhood went position-close-only, and 76 minutes vanished into trading halts. The tape, receipted.