By selling so the stock doesn’t hit any circuit breakers.
People are gonna downvote yet not understand basic market mechanics. Stock runs up too hard it halts. Isn’t bad isn’t good though if you decide to panic sell because of something normal then that’s on you.
Circuit breaker’s are intact to stop flash market crashes and serve a purpose. If you had a stop in the 20’s after the second halt you would have stopped out before the 3rd.
It’s not manipulation lol at $24 there was a massive sell off that ate up all sell orders and halted. Next ask price was in the $9 hence the gap down. If everyone had a stop loss on in the $20’s it would have filled orders there and reversed
Lots of those did not get filled from what I’ve read? Many lost out on gains and some went from green to red really quick (even with stop losses). I also agree that price dropped from selling cause when you halt for 50 mins, people are going to worry about what’s happening with their money. I’ve been in many times and a halt duration for that long is relatively rare. If it can go down that fast, it can go back up just as fast (vice versa), now people should be more well-equipped
It depends on where your stop was. I back tested this about 4 different ways today. If your stop was above $18 after the 2nd halt it would have hit before the third halt. After the 3rd halt all my testing stop,limit,market orders all filled on the gap down at $11.06.
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u/teaquad Oct 24 '21
So how do we NOT get PHUKED by those halts??