Shares of Apple Inc. (AAPL) are currently trading at $176.40 in pre-market action this morning.
Yesterday, Apple shares closed at $169.96 after rallying up $16.20, or 11 percent, per share.
Apple pre-market quotes via NASDAQ here.
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Same thing happened to AAPL in the summer of 2006: a bear run on the stock. The big boys run a perfectly sound equity into the ground by dumping massive lots thereof, knowing perfectly well that others will panic and sell theirs too. THEN, when a significantly large margin has been achieved between previous and new price points, they BUY, BUY, BUY!
I really and truly feel sorry for all my friends who called last week telling me that they sold their shares “before the bottom fell out of AAPL.” When it returns to 200+, they’ll blame me (no doubt) for not talking them out of it.
@ Randian
Well if they are smart they bought it back yesterday morning. The bulls are in charge now, and personally, I see them running until January.
I hear you, brother. It is outright stock manipulation. And it’s happening in broad daylight. Why the New York State Attorney General and the SEC does not investigate and pursue activity like this is unforgivable. Main street little guy investors are getting hurt, while the fat cats get wealthy exploiting them. And if you think I’m some screaming, whiny liberal, think again. I’m anything but. But injustice is injustice.
It’s time some arrogant, cork-sucking bastiches from Wall Street get rounded up on television and paraded into plain wrapper Ford sedans by federal agents. While people are screaming to ban waterboarding, I think this would be a perfect use of the practice.
Mind you, I haven’t budged. I won’t let this episode make me dump stock. But the monsters behind this stock manipulation have hurt a lot of little guys. And that’s just plain wrong.
Did it occur to anyone that the manipulation may have been on the upside, not the down side?
fanboy daily news forgot to mention APPL is down $30 in the last couple weeks.