Nucor Corporation (NUE) was absurdly halted this morning due to an errant print at one penny marking the stock down 99.97%. This is exactly the type of mistake the erodes confidence in markets, when irrelevant errors on the tape reporting facility (TRF) trigger a five minute halt in the trading of a stock.
I wrote about this issue yesterday arguing that the circuit breakers need fixing. A halt should only occur with two consecutive prints of greater than 10%. It’s doesn’t seem like a difficult issue to resolve.
Brandon R. Rowley
“Chance favors the prepared mind.”
*DISCLOSURE: Nothing relevant.
