Nucor Corpoation (NUE) Halted at 11:53 AM Due to Errant Print

Tuesday, September 14, 2010

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.
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