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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Dr. David Gleitman who wrote (11046)6/29/1999 10:16:00 AM
From: Scarecrow  Read Replies (2) | Respond to of 19700
 
David --

It's absolutely standard operating procedure to halt trading when major news is released during market hours. It's not due to imbalances. It's to allow all traders/brokers a few minutes to read and digest the news without any trades taking place. It's designed to promote a fair market in which everyone has access to the same information before trading can occur.

Hope that helps.

EDIT: MARKET LOVES IT: up 5 7/16 RT!!



To: Dr. David Gleitman who wrote (11046)6/29/1999 11:03:00 AM
From: Don Pueblo  Read Replies (1) | Respond to of 19700
 
Just to clarify; it does have to do with imbalances, in a way, so you are not wrong.

In the past, it has occurred that news will cause a kind of panic reaction in a stock...and this is not ED here.

Rather than have to deal with 5 or 10 minutes of wackiness, (which could create an imbalance) the exchange halts the stock long enough for everybody that needs to take a deep breath to do so.



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