WTF Stories of the Week

[Alex]

$1 billion dollars was not lost. Unless if I sold you one of my shares for $1 that means Apple is only worth $20 million.

Except for that one trade (and possibly a few automatic trades afterward before the issue was resolved), nobody lost any money.

[Moonliner]

Originally Posted by Alex

$1 billion dollars was not lost. Unless if I sold you one of my shares for $1 that means Apple is only worth $20 million.

Except for that one trade (and possibly a few automatic trades afterward before the issue was resolved), nobody lost any money.

Given today's nanosecond automated trades and how big the drop was, I'd be willing to bet more than "a few" trades were made. Which equates to real money from someones account.

Apple was not hurt, but think of the poor institutional traders.