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Thread: Apple Crashes on Wall Street in Apparent Trading Accident

  1. #1
    MMi Staff Writer Michael Essany's Avatar
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    Default 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

  2. #2
    just shows how fragile the market can be...PANIC

  3. #3
    PURE SHENANIGANS! Guess what? Someone/group just made Million$ off of this "accident"...

  4. #4
    iPhoneaholic Norb's Avatar
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    So uhh that that buy at 542.8 go through? How does that **** work?

  5. #5
    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.

  6. #6
    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.
    iEat. iSleep. iPhone.

  7. #7
    iPhone? More like MyPhone djdraco's Avatar
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    Damn I should have bought bought bought. I'd be up a ton right now.
    "Time circuits on...flux capacitor...(gulp)...fluxing"
    Please read again I only give one warning - thanks!

  8. #8
    Good way to bring down a company or injure this country, fat fingering. Who would have thought?

  9. #9
    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.

  10. #10
    iPhone? More like MyPhone
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    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.
    Nothing in life is easy.

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