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Subtitle should be: Realization that Tweet was Fake Creates $136B in Stock Market. In less than 5 minutes everything was back to normal. The interesting questi
by fr0sty 13y ago
Subtitle should be: Realization that Tweet was Fake Creates $136B in Stock Market. In less than 5 minutes everything was back to normal.
The interesting question is whether the people panic selling were skittish human traders or twitter-based algorithms trying to get a jump on the headline.
- lutusp 13y agoAnother linked article today indicates it was algorithmic trades, not human ones, and that the algorithms, which track tweets and social media, read it wrong -- they should have been buying, not selling.
- akandiah 13y ago> The interesting question is whether the people panic selling were skittish human traders or twitter-based algorithms trying to get a jump on the headline. It's sometimes neither of those. A lot of stop-loss orders will have been triggered.
- fr0sty 13y agoI doubt that is true. The overall market moved less than 1% and I don't think individual names moved much more than their normal daily trading ranges.
- greenyoda 13y agoAnd in fact, at market close, the three major indexes were all up over a percent. Nothing got "erased" today.