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  • Apple Crashes on Wall Street in Apparent Trading Accident


    Shares of Apple (AAPL) were halted on Wall Street briefly today as traders and investors panicked amidst a free fall of the tech stock seemingly without reason.

    "A single trade of 100 shares at a price of $542.80 hit the tape at 10:57 coming from the BATS Exchange," CNBC confirms. "The previous trade seconds earlier was at a price of $598.26."

    The traders I spoke with this morning say they suspect a so-called error trade, sometimes known as a fat-finger mistake.

    But there could be other factors involved. Nine minutes before the way out of market trade took place, BATS sent an alert stating, “Please be advised that BATS is currently investigating system issues trading in symbols range A through BF.”
    Nasdaq subsequently cancelled the trades and AAPL is now back to trading around the $600 mark. At one point today, the stock was down about $60 a share. So fast was the free fall that the single stock plunge triggered a "circuit breaker," halting trades amidst enormous selling pressure and abnormal volatility.

    There could be more to this story as time passes. We will keep you posted.

    Source: CNBC
    This article was originally published in forum thread: Apple Crashes on Wall Street in Apparent Trading Accident started by Michael Essany View original post
    Comments 9 Comments
    1. alirz's Avatar
      alirz -
      just shows how fragile the market can be...PANIC
    1. Lohand's Avatar
      Lohand -
      PURE SHENANIGANS! Guess what? Someone/group just made Million$ off of this "accident"...
    1. Norb's Avatar
      Norb -
      So uhh that that buy at 542.8 go through? How does that **** work?
    1. bigstudio's Avatar
      bigstudio -
      Quote Originally Posted by Norb View Post
      So uhh that that buy at 542.8 go through? How does that **** work?
      No, the bad trade was reversed.
    1. andypropaganda's Avatar
      andypropaganda -
      Quote Originally Posted by Norb View Post
      So uhh that that buy at 542.8 go through? How does that **** work?
      Read the post much?

      Anyways, this sh*t cray.
    1. djdraco's Avatar
      djdraco -
      Damn I should have bought bought bought. I'd be up a ton right now.
    1. exNavy's Avatar
      exNavy -
      Good way to bring down a company or injure this country, fat fingering. Who would have thought?
    1. quidam_brujah's Avatar
      quidam_brujah -
      Quote Originally Posted by Lohand View Post
      PURE SHENANIGANS! Guess what? Someone/group just made Million$ off of this "accident"...
      The markets are legalized gambling for fat-cats. All of their automated systems, trying to one-up each other by pennies a share and milliseconds a transaction -- I say let their $h!t crash when they design something so fragile. They shouldn't have an 'undo button' when they make a dumb mistake. 'Normal people' don't get that kind of protection.
    1. Dazz187s's Avatar
      Dazz187s -
      Quote Originally Posted by Lohand View Post
      PURE SHENANIGANS! Guess what? Someone/group just made Million$ off of this "accident"...
      Yeah, what will you do about it.