Visualize Aquinox's 9 Circuit Breaker Halts In The First 3 Hours Of Trading
Aquinox Pharmaceuticals Inc (NASDAQ: 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's Eric Scott Hunsader, the first five halts all highlight the magnetic power of the Upper Band in the circuit breaker rules.
— Eric Scott Hunsader (@nanexllc) November 18, 2014
As for the action in Aquinox this Monday...take a look.
— Eric Scott Hunsader (@nanexllc) August 10, 2015
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