Allerdings nur wegen des enormen Ordervolumens. Um den Handel mit anderen Aktien zu gewährleisten, wurde NT vom Handel an der kanadischen Börse in Toronto ausgesetzt.
Friday February 16, 11:41 am Eastern Time
Nortel Halted in Toronto, Trades on NY
TORONTO (Reuters) - Trade in Nortel Networks (Toronto:NT.TO - news) was halted on
the Toronto Stock Exchange on Friday morning because the exchange could not cope with
an unprecedented number of orders.
Trading was halted at 10:02 a.m. EST due to technical difficulties, an exchange official said.
The stock plummeted more than 34 percent at the opening on Friday and was down C$15.25, or 33.04 percent, at C$30.90
when it was halted. The company issued a shock earnings warning late on Thursday afternoon, citing weak U.S. demand,
particularly for its long-haul optical network equipment.
``We halted the stock to keep trading in everything else. The problem is with the order processing and not with the stock,'' a
TSE spokesman told Reuters.
``These orders created delays in the TSE's ability to match orders in all stocks. The TSE made this decision in order to maintain
a fair and orderly market in all listed stocks,'' the TSE said in a statement.
The TSE said it would advise when trading in Nortel would resume in Toronto, but said its shares were trading on other
markets.
``The TSE is working closely with the NYSE to ensure a continuous market is provided for this stock,'' it said.
The stock quickly dropped to a new 52-week low of C$30.10 on the main TSE 300 composite index soon after the market
opened. Nortel shares are now 76 percent below their high of C$124.50 on the TSE in the past year.
On the New York Stock Exchange it was down $9.75 to $20 in early trading.
Gruß Dampf