SP today

[Haggerston]

The way I see it, there are two very unusual circumstances about this particula "halting."  First, usually by now we would know what caused the stock to be halted.  If it really were a Blomberg article, enough people would know anout it that I would expect to have seen someone report on it somewhere.  Second, usually when a stock triggers a halt due to negative news (like when MW attacked NQ a few monthd back) it will continue tripping circuits while plunging.  So for the stock to recover like it did means a lot of intelligeny buyers decided or KNoW that there isn't actually any bad news.  When you consider the level of uncertainty we just experienced coupled with a stock that hasn't really had a real down day in a month, one would be justifid to expect a MUCH uglier close.

A friend of mine who is an investment banker just text me that the cause of the stock drop and halting was a "alorithim mistake." So basically a trading error probably sold a much larger block then it was supposed to and thst triggered the stops.  If it were a real problem or attack, then when it was down nearly $4/share and reopened the shorts or sellers would have had little problem pushing it lower.  Just imagine how thinky stacked the stops are down there in the 17s...  Instead when it reopened there was massive buy side pressure as indicatd by the volume.  To me 12MM volume day and the stock is only down 5% or something as of now, that speaks of confusion, not fear or determined selling.  I'd wager almost all the selling was done by traders just like Pwalk who basically decided the risk was too high to buy it back until he KNOWS what caused the issue.  When it is confirmed that it was algorithmic.

My buddy is saying a computer sent through a sell order on a block of 1M shares, and that caused all the issues.  Also for whatever it may be worth, he says the pro's have been buying it up because of the Tencent buyout rumors.

1] the halt was due to trading  circuit being triggered That was on the Dow wire service.

2] I'm not sure how long you have been in this stock but this did happen prior to the MW attack on several ocasions, although it was not enough to trigger the circuits, the short interest try to take out stops and panic longs.

Thank you for your time and update. Much appreciated.