Halted Issue
Categories: Trading, Regulations
Uh-oh. Pictures of the CEO sleeping with her hot male secretary posted 30 seconds ago allllll over Twitter.
The secretary is prepping for an onslaught of irony, as he hires Gloria Steinham to defend him in this egregious misuse of woman-power in the executive suite. There will clearly be lawsuits. There will clearly be damage to the company's stodgy reputation in the world of pantsuit sales for the working woman.
There will be brand damage. But the CEO is denying everything. She's claiming that the, uh...photo'd triste was all 3D virtual reality augmentations of something that never actually happened.
The bottom line?
Nobody really knows anything this moment, and with the stock gyrating all over the place under huge $8 a share spreads (speaking of gyrating under the spreads...), the New York Stock Exchange decides to halt trading in this stock until a formal 8k or official statement from the cocmpany can be filed and broadly disseminated, and then an educated set of buyers and sellers can come together and, instead of offering shares of PANT bid-asked $32 by $40, they can trade in an orderly fashion.
With less screaming. And more slimming shades of black. Or gray.