That's the way to make money, people!
Sep. 9th, 2008 01:09 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
cryowizardNow here somebody made a ton of cash -- just look at the ridge of buy volume during a slump!
Mind you, the chart below is one day's volume.
Don't you love this story: UAL's price has been trashed yesterday, plunging over 76%, when a 6-year old bankruptcy filing story about them from the Chicago Sun-Stentinel newspaper archive surfaced on the internet via Google News and then made it into Bloomberg, all without the original publication date. Investors, having very little confidence in the airline industry as it is, dumped the shares to the point that trading in UAL has been halted on NASDAQ, only to resume later once the company announced it has not, in fact, filed for bankruptcy and that the news story is from 2002.
The investigation into how this happened is ongoing.
If this was premeditated news manipulation, whomever did it is a genious :)
Mind you, the chart below is one day's volume.
Don't you love this story: UAL's price has been trashed yesterday, plunging over 76%, when a 6-year old bankruptcy filing story about them from the Chicago Sun-Stentinel newspaper archive surfaced on the internet via Google News and then made it into Bloomberg, all without the original publication date. Investors, having very little confidence in the airline industry as it is, dumped the shares to the point that trading in UAL has been halted on NASDAQ, only to resume later once the company announced it has not, in fact, filed for bankruptcy and that the news story is from 2002.
The investigation into how this happened is ongoing.
If this was premeditated news manipulation, whomever did it is a genious :)