A 23-year-old college student takes the stockmarket for a ride.
Comments
Listed in chronological order. Newest comments at the end.
Page 1 of 1 pages
The article fails to mention that EMLX's stock was reopened for trading several hours after the halt at $43. The first prints were in the vicinity of $113.
This means that anyone who was short through the halt most likely lost money.
Emulex soon took steps to have its stock listed on the NYSE, where the specialist system prevents markets from nosediving as EMLX did that day. The new ticker is ELX.
The episode is a warning about the potential for significant disruption where markets are entirely electronic.
Posted by chas on Mon Mar 20, 2006 at 10:44 AM
Page 1 of 1 pages
Comments
Listed in chronological order. Newest comments at the end.
Page 1 of 1 pages
The article fails to mention that EMLX's stock was reopened for trading several hours after the halt at $43. The first prints were in the vicinity of $113.
This means that anyone who was short through the halt most likely lost money.
Emulex soon took steps to have its stock listed on the NYSE, where the specialist system prevents markets from nosediving as EMLX did that day. The new ticker is ELX.
The episode is a warning about the potential for significant disruption where markets are entirely electronic.
Posted by chas on Mon Mar 20, 2006 at 10:44 AM
Page 1 of 1 pages
