Washington Post Shares Halted by New Circuit Breakers - TheStreet

Washington Post Shares Halted by New Circuit Breakers

Washington Post becomes the first stock to be halted by new 'flash-crash' preventative circuit breakers.
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NEW YORK (TheStreet) -- Shares of Washington Post (WPO) more than doubled Wednesday afternoon, becoming the first stock to be halted by circuit breakers implemented after the Dow "flash crash" that occurred on May 6, according to Bloomberg.

The circuit breakers, which became effective on Jun. 11, kick in when they detect stock price swings of 10% in either direction in five minutes or less. Trading activity for the stock in question would be halted for five minutes. The Washington Post shares surged more than 100% to $929.18 in just a few seconds before they were put on pause this afternoon.

According to

Reuters

data, the newspaper's Class B shares shot to $929.18 a share at 3:07:30 p.m. on the Pacific Stock Exchange in a trade of 166 shares. Two other trades of 200 and 400 shares were also posted at $919.18, or $10 lower,

Reuters

reports. The last trade registered before trading was paused was at $455.14, according to the wire report.

That helped bring Washington Post shares down to more normal levels, though they began climbing again shortly afterwards. The stock was up 0.1% to $458.45 ahead of the closing bell.

-- Reported by Andrea Tse in New York

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