This paper uses high frequency, investor type-level trade flow data in the Korean stock market to study price dynamics and retail investor behavior around rule-based trading pauses. Because trading pauses are salient events, retail investors make attention-induced bets on price continuation following trading pauses. Moreover, market participants anticipate such ex-post behavior and incur buying (selling) pressure near upper (lower) price limits ex-ante. This causes price limit hits to be more frequent and harms price stability near limit thresholds. Trading pauses also become a window of wealth transfer from retail to institutional investors.