From MSDN
Only one open connection can exist per SerialPort object.
The best practice for any application is to wait for some amount of time after calling the Close method before attempting to call the Open method, as the port may not be closed instantly.
When you call Close(), this worker thread needs time to spin down and exit. The amount of time needed is not specified and you can't verify that it was done. All you can do is wait at least one second before you call Open() again.
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