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With about five minutes remaining in the trading day, the company posted a statement on its official website under the headline: “Announcing the Tesla Model W.”
by exit 12y ago
With about five minutes remaining in the trading day, the company posted a statement on its official website under the headline: “Announcing the Tesla Model W.”
In the following minute, the stock jumped about $1.50 or about 0.75 percent from its level the moment before to as high as $188.50.
Nearly 400,000 shares traded in that time, and it was the heaviest one minute of trading volume in the stock since the opening 60 seconds of trading on Feb 12.
Tesla shares quickly retraced most of that upward move and ended the session at $187.59, down 0.63 percent from Tuesday’s close.
- ams6110 12y agoDoesn't sound like much but a 0.75% swing in 5 minutes is almost 78,000% annualized gain. Obviously swings like that don't persist for a full year but huge amounts of money can be made or lost on small swings like that which is what the algorithms try to take advantage of.