Engadget Publishes Incorrect Article, Apple Stock Crashes
May 16th, 2007 at 19:28 under News.There really isn’t much to say about this little incident as I think Michael Arrington does a decent job pointing out all the obvious facts. One thing that should really be highlighted though is the ENTIRE chart showing Apple’s stock performance over the course of the day. The best/important part is watching the volume of stock traded around 12PM, looks like like a few million stock were traded around in a few minutes. Feel free to read the rest of the article, it mainly deals with the Engadget post featuring a forged Apple email saying Leopard and iPhone were delayed and causing a sudden sell on Apple stock.
I feel bad for the guys that lost money on this move, I sure hope it wasn’t deliberate as it’s possible for a select few “insiders” to have made quite a bundle. Funny the power that the Internet can have upon real lives, and people say blogs are useless.
May 17th, 2007 at 9:24 am
Probably I’m the one that suffer quite a loss. Not that I’m panicking, I put the automatic stop (in which the system will automatically sell) at 104 (price at that time is hovering at 107). It’s almost surreal that the stock can move $3 in just 5 minutes, but then again the market is always right.
May 17th, 2007 at 9:33 am
The market was sorely deceived in this instance, sorry to hear about your loss. I hope you bought the stocks back as it looks like Apple is back on the climb up again. Goodluck with those stocks.