I'm not an autist and I'm not great at digging, but all this got me thinking. I'm on the GME daily thread in r/superstonk and the comments are making me wonder... With this huge spike (~30%) followed by 4 trading halts even with minimal daily volume, people are quite obviously livid - especially after the past 2 weeks of absolute horror. With the brazen market manipulation, could this be a part of what Q was talking about when they said that class action lawsuits were very effective?
Considering how many people have had their life savings destroyed due to this tomfoolery, would there be legal standing for a class action lawsuit against these crooked establishments because of market manipulation?
It's volatile today. Any volatility will cause these 5 minute halts. That's baked into the NASDAQ, not just for GME. https://www.nasdaqtrader.com/trader.aspx?id=tradehalts# has a list of halts for all stocks on the NASDAQ. I think GME is volatile because apes aren't selling and are slowly but surely draining all liquidity from this one stock. Shorts still have not closed, and MOASS seems to be an inevitability now.
GME is on NYSE, not NASDAQ.
That said, for the past few days we have had spikes down on GME that have not triggered halts, but magically on the spikes up the halts work properly.
the trading halts are suspiciously similar to election vote counting halts.
the machines come back on with a new algorithm to kill the buying pressure
there isn't a good reason in the day & age of computer systems managing all the trades to halt the stock. if buyers and sellers don't match up, then the trade shouldn't go through....it's that simple.