3 ms·
Here is the movement of Accenture as given by WSJ: "With Accenture, for example, 20,365 shares changed hands at around $39.98 during the minute of 2:46 p.m., t
by ivenkys 16y ago
Here is the movement of Accenture as given by WSJ:
"With Accenture, for example, 20,365 shares changed hands at around $39.98 during the minute of 2:46 p.m., then another 68,516 shares were traded at $38 per share during the minute of 2:47. But then in the 2:49 p.m. minute, 66,277 shares traded at one cent. By 2:50 p.m., the stock was back up to $39.51."
The trade at 2:50 pm is the is the one that intrigues me , i can understand how the other ones can be blamed/attributed to HFT algorithms , but how does one explain the bounce-back at 2:50 from one cent to 39.51 ?
- yummyfajitas 16y agoOne or more large investors believed that the correct price for Accenture was about $40. When they saw it available at prices between $0.01 and $39, they bought and bid it up.
- ivenkys 16y agoThat's my problem with this - why would i pay $40 for something that is available at $0.01. Yes i might believe it is worth $40 but when i am getting something for much cheaper than that surely i would just buy and wait for it to go up, in which case the price rise should also be in stages, which it is not.