Former President Donald Trump threatened the NASDAQ on Friday after the stock exchange briefly halted trading on Trump Media & Technology Group, which owns Truth Social.
Yeah, the guy who has no idea what a trading curb is, is a very stable business genius. Of course there is a very high chance that he is just straight up lying to rile the ignorant.
Limit Up-Limit Down Circuit Breaker (Single Stock Circuit Breaker) – The Limit Up-Limit Down circuit breaker (“LULD”) is a market volatility moderator designed to prevent large, sudden price moves in a stock. In particular, it prevents trades in individual securities from occurring outside of a specified price band. This price band is set at a percentage level above and below the average price of the stock over the immediately preceding five-minute trading period. If the stock’s price moves to the price band and does not move back within the price bands within 15 seconds, trading in the stock will pause for five minutes. These price bands are 5%, 10%, 20%, or the lesser of $.15 or 75%, depending on the price of the stock and whether the stock is designated as a Tier 1 or Tier 2 NMS stock. Tier 1 NMS stocks include all securities in the S&P 500, the Russell 1000 and select Exchange Traded Products. Tier 2 NMS stocks include all other NMS securities, except for rights and warrants, which are specifically excluded from coverage. The LULD applies during regular trading hours from 9:30 am ET – 4:00 pm ET. The LULD’s price bands double during the last 25 minutes of the regular trading day for (i) all Tier 1 NMS stocks and (ii) Tier 2 NMS stocks at or below $3.00.
That’s like - the very tippy-top flower icing on layer after layer of shit cake that is trump. No, he does not know what anything is. He’s also a demented rapist and a pathological liar. Then there’s the whole selling-us-out-to-russia thing.
My point is - his ignorance regarding how stock markets work (despite being surrounded by people who probably do) is not even in the top 100 things about him that are horrifying and sad.
It’s a social media company with very few active users which loses piles of money and takes in a pittance in return. It is worth less than nothing. If he holds it when it goes to zero than he loses all possible profit. Of course he’s going to sell.
Oh for sure. It’s effectively been a proxy for election betting since it’s inception. Investors know if he wins it’s a vehicle for people to buy his favour by adding demand pressure. As long as Trump thinks he might win, he has to keep his position.
I’m going to take a wild guess at one reason why preventing large, sudden price moves in a stock is a good thing: it prevents pump and dumps.
You can’t quickly pump a stock and then sell it off if there’s a control that stops the stock price from going way up in a hurry. And if you dump a stock, the price isn’t going to plummet instantly, offering some protection to your unwitting victims.
Yeah, the guy who has no idea what a trading curb is, is a very stable business genius. Of course there is a very high chance that he is just straight up lying to rile the ignorant.
https://www.investor.gov/introduction-investing/investing-basics/glossary/stock-market-circuit-breakers#:~:text=A cross-market trading halt,of the S%26P 500 Index.
https://www.nasdaqtrader.com/Trader.aspx?id=TradingHaltSearch
There’s too many facts here! Go away!
Heh heh.
LULd for sure.
So this guy whose message has the economy as a large part of it has no idea what a halt is? what a clown.
That’s like - the very tippy-top flower icing on layer after layer of shit cake that is trump. No, he does not know what anything is. He’s also a demented rapist and a pathological liar. Then there’s the whole selling-us-out-to-russia thing.
My point is - his ignorance regarding how stock markets work (despite being surrounded by people who probably do) is not even in the top 100 things about him that are horrifying and sad.
It’s hilarious. They were literally propping up the value of his company by preventing a price implosion.
It makes me wonder if his orders got cancelled.
I’m all for dunking on Trump, but you (or anyone here) should read the article.
It didn’t trigger because the price was tanking. It triggered because it was going up too fast.
It was on news of Trump saying he wasn’t going to sell.
Can the rubes really be that dumb, or was it all just foreign bribe money looking for an excuse to buy in?
Yes.
It’s a social media company with very few active users which loses piles of money and takes in a pittance in return. It is worth less than nothing. If he holds it when it goes to zero than he loses all possible profit. Of course he’s going to sell.
It’s literally just a Mastodon instance that isn’t federated.
Oh for sure. It’s effectively been a proxy for election betting since it’s inception. Investors know if he wins it’s a vehicle for people to buy his favour by adding demand pressure. As long as Trump thinks he might win, he has to keep his position.
This is a basic misunderstanding of reality. It’s shitty and useless even for him. If he wins he wont need it.
I’m going to take a wild guess at one reason why preventing large, sudden price moves in a stock is a good thing: it prevents pump and dumps.
You can’t quickly pump a stock and then sell it off if there’s a control that stops the stock price from going way up in a hurry. And if you dump a stock, the price isn’t going to plummet instantly, offering some protection to your unwitting victims.
Thanks for the background info!
Now we all know more than the stable genius. I know it’s not very complicated to do that.