Following two days in a surge of volume for Ambassadors International (AMIE – parent company to Windstar Cruises), and a stock price jump from $1 to over $3 a share, the NASDAQ has temporarily halted trading on Ambassadors International.
The three-month average trading volume of just under 40,000 shares per day had moved into the millions on Wednesday and Thursday of this week, fueling various rumors.
A trading halt typically occurs if an exchange sees “unusual activity.” Most halts last for around one hour, and tend to happen when corporations are about to issue significant news, giving investors time to evaluate options.
AMIE’s trading was suspended on April 1 at approximately 09:26:13 (EST). The Nasdaq lists the suspension as “T1” – meaning there is “material news pending”.
The company was scheduled to release earnings on March 31, according to various finance websites, but that has now been delayed until April 4.
