Glitch? Nikola Corporation


I need help with some issues which I’ve recently faced whilst playing with Nikola Corporation. Please forgive my informal language but I’ve only been trading for a few months…

On the 8th of June I bought two Nikola Corporation buy positions. One was 5 units and another was 10 units which was purchased a bit later at a higher price. At this time NKLA was still climbing up and I had a feeling that the following day the prices would continue going up.

The following day ( 9th of June ) I was waiting for the market to open at 2.30pm and as soon as the clock hit 2.30pm the prices went up…it skyrocketed an when it reached around $84-85 per unit I decided to close both positions and take the profit which from both positions at this point was around £210-£220 ( situation was changing fast so it’s difficult to say exactly what my profit was ). As usual I pressed ‘×’ to close the position and then ‘confirm close’ however I kept getting a pop up window with a message saying ‘THIS MARKET OPENS AT 14.30 in (0h -1min)’!!!. It was already 14.31 I could see the prices changing but no matter how many times I tried to close both positions they just remained active and I kept seeing the same horrible message. I’ve attached a screenshot which I managed to take during this battle.

As I kept trying to close the positions the message kept coming at me…THIS MARKET OPENS AT 14.30 in (0h -2min) and so one. So it appears that eventhough the market was at least to some extent open as it was already after 2.30pm and the prices were first going up and then down as you can see on the same screenshot I was unable to close my positions. Prices then started going down like crazy. I kept on trying to close the positions and eventually after few minutes I managed to close them but unfortunately for me all profit was already gone. Whilst trying to close the positions I even logged out and then logged back in to see if that helps but it didn’t.

I sent a message to T212 explaining the situation and the reply I received is:


Thank you for reaching out.

Yesterday on 09.06.2020, Hertz, Whiting Petroleum, Nikola Corporation & Chesapeake Energy Corporation were temporarily suspended. Those securities had huge volatility and subsequently, hit limits which led to suspended/halted trading on Nasdaq Stock Exchange which naturally reflected on our platform as well. This matter had nothing to do with us but we made sure to smooth out the process to the best of our ability.

Your feedback and cooperation, as well as your patience, are appreciated on the matter and you may rest assured that we are doing our best to protect our clients even with events out of our control such as this one.

Should you require further assistance, we remain at your disposal.

Best Regards,

Boyko D. Customer Care Hero

My reply was:

I’m not a seasoned trader but from what I have gathered and noticed whilst trying to close my positions in that very moment and I can confirm this with the screenshot which I took at the time there was no clear indication that the trading was suspended and this message TRADING SUSPENDED always appears right under the current pricing of the units.

Also since as you stated the trading was suspended than why the prices were changing and affecting my active positions and not allowing me to make any changes? Normally when the trading is suspended it means that one can not open any new positions but can close his active positions however in this case I could not do anything but to stand by and watch.

It just doesn’t make any sense. Look into the screenshot attached. It says market closed eventhough it was 14.32
In a meantime unit prices were going crazy and there is nothing about trade being suspended.
This is wrong.


I still don’t understand what exactly happened on the day in question…please help.

They’re right, you can search and find that trading was halted for the stock at market open (just a little hard to find). This happens quickly so all they can do is block orders really, maybe could implement an automatic warning system somehow.

I’m not sure how the prices could be changing rapidly, other than in the first few minutes of the suspension. You should have seen maybe some movement in the price. Could just be the chart trying to catch up.

But anyway, it doesn’t matter what the chart was doing, trading was suspended and therefore there was no trading available. Therefore the is no issue.

I am not saying that T212 is lying about the trade being suspended however if the trading was suspended then why I was unable to close my active positions? Why there was no TRADING SUSPENDED info underneath the unit prices?
The message I was getting was MARKET CLOSED yet still the prices were changing!

Maybe the notification is clunky/lackluster. I don’t day trade so don’t care.

But it is clearly evidend there were several trade halts for NKLA. Meaning all trades stopped for several minutes…

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That’s actually very helpful but also very worrying…from the trading halt history I’ve found out that the LUDP halt was called at 09:32:35 ( US time ) which for me here in the UK was 14:32:35 and lasted for the usual 5 minutes. However the thing is that straight from the market opening ( 09:30/14:30 ) which is 2min35sec before the halt was called I was still unable to close my positions and everytime I tried to close them I would get MARKET CLOSED (0h -01min) message which suggests that eventhough it was like one minute after the market should have been opened it was still closed… at least accordingly to T212.
Therefore accordingly to the trading halt history I should have been able to close my positions within the first two minutes ( 09:30:00 - 09:32:35 / 14:30:00 - 14:32:37 ) but the T212 platform would not allow me to do so stating that the market was closed!!! I’m really angry now.
Hiw do I get T212 rep to look into this?

@Lucas.lubecki I’ve flagged this for one of the team to look into for you, so they should be in touch with you tomorrow (later today).

Trading is suspended by the market. Nasdaq in this case. US stock markets have a lot of circuit brakers. In specific situations trading will be suspended for 15 min. Nobody can trade the stock at that moment. Same happens when S&P 500 falls 7% in 15 mins (happened in March during Covid sell off) everything stops. It’s like someone just pushes the pause button and everyone stands there on the spot like a statue for 15 mins.

@Lucas.lubecki The trading halt indeed did not start when you were experiencing the issue. Your case does seem like a glitch which oddly enough is an isolated case. We’ve made an adjustment to your account as if you closed the position at the best available price.