Notice they only halt trading when stocks go down.
They never halt trading when stocks go up.
I bet the Robinhooders are crowing loudly today.
I don't believe that is correct. Stocks are halted when good news comes out in relation to close, etc.
Genentech, first biotech to go public, Oct. 1980.
Stock soared on day one and trading was halted.
The more I think about it, I believe that trading was halted in about 20 minutes of the open (it was an ipo) It opened at $35 and went well over $80 when trading was halted. IIRC, Goldman underwrote the one million shares offered but held back for itself about half from trading.
It was a long time ago, so some of the minutia of this may be off, but basically it’s just an example I remember. Too lazy to look it up.