What we do know is that the SEC did NOT ask for a halt or suspension.
I believe that if the halt was initiated by NYSE then it would have been a T12 NOT a T1. But NYSE did halt it. (DUH!)
This is getting to be almost comical. Yes, the exchange is always the one who halts trading. But who's decision was it is the point. Thats wqhat the codes are for. Obviously the company cannot halt trading, they cannot only request the exchange to do it. This is like saying di the driver did stop the car or did the brake pads stop the car. The company (the driver) stopped the car, but they had to use the brakes to do it.
It seems like an intentional obfuscation going on by someone, not sure why.
The Exchange halted trading, and not the company. I just received this message from my brother (who is much more knowledgeable than I). He got the information from a representative at Schwab.
Does this mean it is true? Well it increases my sense of the likelihood that we longs are doomed.
Copied from the SEC website:
The SEC does not halt or delay trading in a security for news pending or order imbalances, but it can suspend trading for up to ten days and, if appropriate, take action to revoke a security’s registration. For more information about the SEC’s authority to suspend trading in a security, please read "Trading Suspension! When the SEC Suspends Trading in a Stock" in our Fast Answers databank.
Normally if the SEC or NYSE is about to come, they will simultaneously place a Halt and release the news. If it is during the day, by EOD they will make the news available.
This is a Company requested halt, so the NEWS is pending.
If you are a short, then it would be better to take a position on DYNP, the stock is about to Reverse, the downside is very very limited. Atleast you will have enough money to cover, when any positive news hits the wires.
Just my 2 cents.