The Emulex Stockmarket Hoax
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  07:44 AM
Page 1 of 1 pages

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Museum of Hoaxes the Book
A History of Outrageous Pranks and Deceptions