Question:
Is there any source for a minhag (or possibly lesser status) that someone holds aloft the havdala candle rather than just leaving it to rest on the table – discounting the presumed fable that if one wants a tall spouse ………
Answer:
I am not aware of such a minhag. It could be that it is practical, so that mor people can see the light of the candle. Other than that, I don’t know
Best wishes
