News came out about an investigation on behalf of investors of LifeLock concerning the Company’s and its officers’ possible violations of federal securities laws. Law Offices of Howard G. Smith was preparing a lawsuit to recover damages suffered by LifeLock investors.
The news caused a massive selloff from $16 to $14 and triggered the circuit breaker, LOCK got halted. LOCK got halted 3 times and I shorted it at the 2nd time. I covered just in time before the 3rd circuit breaker got triggered which was a good idea. The 3rd halt lasted about 30 minutes while the 1st and 2nd only lasted in 5 minutes. When it's a massive selloff, you don't know if it will bounce or not. That's why it was risky to hold a short position during the 3rd halt and wait for it to reopen.
I locked in the profit and didn't lock back.
The news caused a massive selloff from $16 to $14 and triggered the circuit breaker, LOCK got halted. LOCK got halted 3 times and I shorted it at the 2nd time. I covered just in time before the 3rd circuit breaker got triggered which was a good idea. The 3rd halt lasted about 30 minutes while the 1st and 2nd only lasted in 5 minutes. When it's a massive selloff, you don't know if it will bounce or not. That's why it was risky to hold a short position during the 3rd halt and wait for it to reopen.
I locked in the profit and didn't lock back.