HMHC – HALTED AH (code T12) – on the night of Major announcement regarding the acceptance/rejection of BUY-OUT OFFER. 18,000% options increase on one call strike/date.
Here is more info on what sorts of events cause this Halt reason code:
“Whenever a stock is halted, there is a code assigned to the company. For example, the most common stock halt code is “T1″ which is slapped on a company ahead of the pending release of material news.”
“The “T12″ halt code is put in place when the Nasdaq exchange requests additional information from the company.”
“According to FINRA, a trading halt can last up to 10 business days and is issued when the SEC believes the investing public may be at risk.
The SEC holds the authority to halt trading in a stock based on trading activity alone, even if the company is up to date in its regulatory filing.
Can’t Be Good News”
I have two theories – one) the $22.5 June expiry call option got something like an 18,000% volume increase TODAY… or two) the $21/share cash buy-out went through and the shares have been confirmed Tendered causing this halt.
I wanted to see if there’s any wallstreet veterans here who can give their opinion as to the reason of the halt?? Have any previous buy-out announcements been followed by a halt?!?
whether you like this play or not, this weird rare event should be interesting. wonder if it’ll still be halted tomorrow???
Submitted April 07, 2022 at 02:24AM by v-shizzle
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