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Stock Market News, May 14, 2024: Nasdaq Hits New Record After PPI Inflation Data
GameStop, AMC shares rocket higher for a second day
Last Updated:
May 14, 2024 at 6:20 PM EDT
A GameStop store in New York. (Shelby Knowles/Bloomberg News)
The wild rally in GameStop shares this week has moved in fits and starts, as the stock has been halted for volatility eight times so far today, for five minutes at a time. On Monday, there were nine such halts.
So why does the stock market keep hitting the pause button on GameStop?
Such pauses are called limit up/limit down halts, which kick in automatically when stock prices are moving extremely fast.
In the case of GameStop, during most of the regular trading day, its shares are halted whenever their price rises or falls more than 5% in a five-minute window.
During the last 25 minutes before the stock market closes at 4:00 p.m. ET, the rules change and prices can fluctuate up to 10% before a halt.