4 ms·

They got most of it back in the next 40 minutes.

• deleted 17y ago
  [deleted]
• rdtsc 17y ago
  Not if they had set stop-loss triggers to protect against a large loss. That works well for a slow falling stock, but it doesn't work for a plunging stock. The stop-loss for Accenture might have been $15, but by the time the market order sale was executed, it could have gotten down to $1. Unless the stop-loss was immediately followed by a limit order, all the value stored in that stock would have been wiped out.
  • hugh3 17y ago
    In which case this would be bad luck for any individual who happened to have their life's savings in Accenture stock with a stop-loss order placed on it. I doubt this covers too many individual investors, though.
  • Qz 17y ago
    ...and that trade would be canceled.
    • Keyframe 17y ago
      if movement was larger than 60%, which in most cases it wasn't.
      • Qz 17y ago
        The example specifically referenced stocks going down to $1 from $15, so my statement holds true for what it was in response to.
        • Keyframe 17y ago
          True, and I'm sorry, it wasn't my intention to dispute that. However, NASDAQ cancelled trades number is 286... 286.
  • borism 17y ago
    that's why you don't use stop loss, only stop limit!