Jefferies has been halted twice Thursday morning. According to CNBC the halts occurred within 10 minutes of each other and highlight a problem with the single stock circuit breakers.
The first halt occurred when Jefferies [JEF 11.3825 -0.8875 (-7.23%) ] moved 10 percent in 5 minutes or less. Trading was halted for five minutes under the rules governing single stock circuit breakers.
Fair enough. But when it reopened, JEF moved from $9.79 to $10.80, a 10 percent move ON THE UPSIDE in less than five minutes. Under the rule, the stock was halted AGAIN.
Find out more at http://www.cnbc.com/id/45149674
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