The New York Stock Exchange (NYSE) halted trading of Virginia-based Blue Ridge Bank’s stock (BRSB) after a spike in trading activity Wednesday, the company told CoinDesk in an email.
The company announced late Tuesday it had opened up bitcoin redemptions and purchases at 19 of its ATMs. The stock started the day trading just under $20 and jumped to $22.61 before settling to $21.22 as of press time.
“NYSE told us the company’s stock reacted to the news and due to the volatility, a Limit Up/Limit Down (LULD) trading halt was triggered,” said Blue Ridge external spokesperson Jon Amar. “The LULD is a 5-minute trading pause. Currently, the stock is trading up approximately 5% on 75K shares vs. its 30 Day ADV of 10K shares.”
The NYSE did not respond to a request for comment by press time.