To make high-quality research more accessible and easier to explore.

Fields:

Stock Price Movement Associated with Temporary Trading Suspensions: Bear Market Versus Bull Market

Journal of Financial and Quantitative Analysis 1976 11(4), 577
A temporary trading suspension in a listed security represents a temporal discontinuity in a continuous auction market. Although the SEC occasionally suspends trading in specific securities, the NYSE itself administratively halts trading in individual NYSE issues. The latter occur quite frequently (almost three per day on average), and typically last about two hours. NYSE-initiated suspensions are the focus of the present paper.