“A single trade in Apple Inc. shares far below where the stock had previously been priced on Wednesday was canceled, said a spokesperson at the exchange where it was generated,” Rodrigo Campos and Chuck Mikolajczak report for Reuters.
“One trade of 100 shares was executed at $321.87, more than 7.5 percent below Tuesday’s close, before being busted by the BATS exchange,” Campos and Mikolajczak report. “‘The trade was busted under BATS clearly erroneous trade policy,’ a spokesperson for the exchange said in an email.”
Campos and Mikolajczak report, “Apple shares closed up 0.4 percent for the day at $349.57.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Vague Nomenclature” for the heads up.]
Weird, I see this story on my iPhone, but not on my Mac.
Did they bust up an attempt to manipulate?
100 shares doesn’t move markets. BATS may be looking for a little buzz.
Could it have been a probing attack?
A single share can move markets. Once a trade goes though and that last trade price shows up a million computer screens there’s a good chance of starting a panic.
Single odd trades like that always make me wonder if someone just had a typo, and put in an order to sell at $231 instead of $251, and someone else had placed an order to buy at $231 in case it ever went back down to that level.
Was this LUSER behavior or ABUSER behavior?