Interest in stay-at-home stocks have reached new heights in the last few days, fueled in part by hopes for a dramatic rebound in the economy.
Trying to find a bottom in energy stocks has also been a fixation for retail investors for months.has been bizarre. The stock closed at $14.05 on Thursday, then ended trading on Monday at $69.92, a move of nearly 400% in two days, on no news. Other beaten up energy names also rallied.
While the halt was labelled as "news dissemination," the company does not appear to have made any statements. The stock was reopened at 12:37 p.m. ET, and was halted numerous times throughout the day for volatility before closing at $23.75 on heavy volume. While unusual, the NYSE's "Listed Company Manual" permits the exchange to halt trading in a stock when officials believe it is necessary to ask for more information on material news, the issuer's compliance with exchange continued listing requirements, or any other information necessary to protect investors.
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