David bought a stock three years ago for $36 a share. Today, Feb. 1, the stock is selling for $52 a share. David is afraid that the price will fall and does not want to lose his profits so he places a stop-loss order (good-'til-canceled) to sell at $48. The stock sells between $51 and $55 throughout the remainder of the day on Feb 1. On the morning of Feb. 2, the stock opens at $30 a share based on rumors of a possible bankruptcy due to inappropriate accounting procedures. Which one of the following statements is true concerning this situation?

A) David was able to sell his stock for $48 a share thereby protecting his profits.

B) David 's stock was sold for $30 a share causing him to lose most of his profits.

C) David still owns his shares of stock since his order was never executed at the $48 price.

D) David received a call from the specialist asking him what he wanted to do about his order.

Please explain answer.