Trading halts are implemented by exchanges, not the SEC.
According to Nasdaq, a temporary trading halt benefits existing and potential shareholders to avoid knee jerk reactions by ensuring that material news is distributed equally among all market participants and by ensuring that all trading is based on publicly held facts.
Typically a company contacts the exchange where its stock is listed and requests a halt.
The 30%+ drop was not based on any news, instead massive distribution of investors, so a trading halt would not have done anything to stop the fall.
Irving....the answer is in your text "STOPPED OUT". That is what happened yesterday. When OCZ hit $1, stops were triggered. Then the fall continued and more stops were hit. That is all. No news whatsoever.
Looking back at CC from October looks like issued 7 mil shares per s1 to financing and warrants that would trigger at .75. Almost seems orchestrated to bring down stock to .75 to allow warrants to trigger?