Visualize Aquinox's 9 Circuit Breaker Halts In The First 3 Hours Of Trading

Aquinox Pharmaceuticals Inc AQXP has been halted nine times so far this Monday. Shares have taken investors and speculators on a wild ride from a close on Thursday August 6 of $1.79 to a high on Monday August 10th of $55.75 or roughly 3,014 percent.

Circuit breakers are used to halt trading when the market moves too fast and are designed to calm markets when stock prices move to quickly.

 The breakers essentially behave more like a magnet than a means to prevent volatile movement.  As seen in the following chart from Nanex, the first five halts all highlight the magnetic power of the Upper Band in the circuit breaker rules. Recall in 2014 when Hunsader also pointed out the magnetic power of the circuit breakers bands when Home Depot HD flash crashed:

$HD demonstrates how LULD Circuit breakers act like magnets: pic.twitter.com/P0r9Hl4f32

— Eric Scott Hunsader (@nanexllc) November 18, 2014

As for the action in AQXP on this Monday (Click to Enlarge):

Circuit breakers don't help, they are magnets.  The SEC needs to get control over the wild west that is high-speed, special order type driven, payment for order flow executions.