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Lolstop has two alternative meanings - the first one is the most common:

1. A lolstop is usually a stop after a discussion that's not finished and they laugh out loud or "LOLs" and then there's a period of silence ...

2. A stop sign that looks more like a "lol"
(note: Specially after speaking something senseless and really random crap)
For ex.
Person one: Henry, whose mittens are these?
Henry: Oh, STFU!
Person one: ... LOLs ...
Henry: LOLs ...

(end of discussion) - a lolstop
by acronym_w29 June 14, 2010
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