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

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

Recall in 2014 when Hunsader also pointed out the magnetic power of the circuit breakers bands when Home Depot (NYSE: HD) flash crashed.

As for the action in Aquinox this Monday...take a look.

Posted-In: Analyst Color Biotech News Movers General Best of Benzinga

 

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