WTF?
Apple shares dropped 9% today. With something like 20,000,000 shares outstanding that represents a loss of over a billion dollars. A billion dollars.
And why did this happen?
Quote:
A single trade of 100 shares at a price of $542.80 hit the tape at 10:57 coming from the BATS Exchange. The previous trade seconds earlier was at a price of $598.26.
“It looks like a fat finger mistake,” said Joe Terranova, chief market strategist for Virtus Investment Partners.
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A trade of 100 shares cost a billion dollar loss. How the F' could that happen? Stocks are nuts. Sure the stock recovered in fairly short order but still what a mess.