GameStop (GME) stock halted four times in volatile bounce back day

Published , by Asif Khan

GameStop's stock has had a volatile morning today, and the stock has been halted four times today in the midst of violent, high volume trading. The NYSE claims the reason is their Limit Up Limit Down (LUL) pause regulations.

GameStop's minute chart highlights all four of the stock halts that occurred this morning.

Here's a breakdown of every GME halt reported by the NYSE today:

  1. GameStop LULD pause 
    • 10:14:26-10:19:26 a.m
    • Stock was halted after moving up over 5% in less than 5 minutes
  2. GameStop LULD pause
    • 10:20:04-10:25:12 a.m
    • Stock was halted again after moving up over 5% in less than 5 minutes
  3. GameStop LULD pause
    • 10:25:35-10:30:37 a.m.
    • Stock was halted a third time after moving up over 5% in less than 5 minutes
  4. GameStop LULD pause
    • 10:30:54-10:35:56 a.m.
    • Stock was halted a fourth time, this time after falling 5% in less than 5 minutes

Please check out our guide on how stock market and trading halts work to learn more about why these things happen. 

Many people think that the GameStop short squeeze played out in January 2021, but the stock is still heavily shorted with over 20% of the float still being borrowed by bears to bet against the company. Adding to the rocket fuel for moves like today is the fact the stock is down nearly 50% from its recent high of $199.41/share hit in early April 2022.

GameStop (GME) has traded over 6.5 million shares today, but these halts seem to have taken some wind out of the stock's sails. The company is set to release their NFT marketplace in the coming months, and shareholders will vote on a stock split in just three weeks. It remains to be seen if GameStop's move into the crypto space with their Web3 push is too late to matter, but shareholders are feeling a bit more optimistic today despite the NYSE pouring cold water on that share price squeeze from $77.77/share to $108.06/share with the multiple LULD halts this morning.

This article is only meant for educational purposes, and should not be taken as investment advice. Please consider your own investment time horizon, risk tolerance, and consult with a financial advisor before acting on this information.

Full Disclosure:

At the time of this article, Shacknews primary shareholder Asif A. Khan, his family members, or his company Virtue LLC had the following positions:

Long GameStop via GME shares

Long GameStop via GME call options