IAC Trades During Five Minute Period to Be Canceled by Nasdaq
Trades in IAC/InterActiveCorp (IACI) that occurred when the stock was supposed to be halted earlier today will be canceled by the Nasdaq Stock Market, the exchange said.
The operator of websites such as Ask.Com and Match.com plunged as much as 14 percent to $45.06 after it forecast an operating loss in its media and other segments, setting off a halt at 11:34 a.m. New York time that is triggered by extreme price swings. At least 14 trades that mostly occurred 18 seconds after 11:34 have been canceled, according to data compiled by Bloomberg.
Between 11:34:17 and 11:39:15 a.m., shares of IAC were “subject to a trading pause and no trades should have occurred,” Nasdaq, a unit of New York-based Nasdaq OMX Group Inc. (NDAQ), said on its website. The decision isn’t subject to appeal.
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