dihard: United Airlines stock fell 76% today from $12.17 at open to about $3.00 mid morning.  Why the collapse? Because a six-year old story about UAL’s 2002 bankrupty filing was somehow reposted online on the website of the South Florida Sun-Sentinel, a paper owned by the Chicago Tribune Co. It was quickly refuted and theshare price recovered after a 90 minute trading halt. Oddly enough, the story was not dated 2002, but was dated September 8, 2008. The Sun-Sentinel editor denies that the newspaper published the article. Wow - how quickly the markets react. I wonder if trades actually went through in large volumes at $3.00?  I could have used this tip, as my portfolio is hurting thanks to SIRI.

dihard:

United Airlines stock fell 76% today from $12.17 at open to about $3.00 mid morning.  Why the collapse? Because a six-year old story about UAL’s 2002 bankrupty filing was somehow reposted online on the website of the South Florida Sun-Sentinel, a paper owned by the Chicago Tribune Co. It was quickly refuted and theshare price recovered after a 90 minute trading halt. Oddly enough, the story was not dated 2002, but was dated September 8, 2008. The Sun-Sentinel editor denies that the newspaper published the article. Wow - how quickly the markets react.

I wonder if trades actually went through in large volumes at $3.00?  I could have used this tip, as my portfolio is hurting thanks to SIRI.

8th September 2008
stocks 
Reblogged from what i learned today by dihard

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