Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement
The stock jumped by more than 13% after news that it would let its customers buy bitcoin through its ATMs.
Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement
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 that 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 approx. 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.
Read more: This Virginia-Based Bank Is Letting Customers Buy Bitcoin at the ATM
