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Blue Ridge Bank Shares Halted by NYSE After Bitcoin ATM Announcement
The stock jumped by more than 13% after news that Blue Ridge would let customers buy bitcoin through its ATMs.
Updated Sep 14, 2021, 12:10 p.m. Published Feb 10, 2021, 6:56 p.m.
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.
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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.
Read more: This Virginia-Based Bank Is Letting Customers Buy Bitcoin at the ATM
"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.
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