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Originally Posted by FireFly
I believe I had a conversation about similar stuff with Cowboy yesterday...
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Yeah except one variable is missing and that's the total volume traded. I seriously doubt many poor working class 401K investors lost everything on this one. Nasdaq has systems in place to force a hault in trading to allow the company to respond with clearifying information. The stock was haulted, trade orders were stopped, and proper information came out and it has already recovered to near normal trading. No need to usher in a new era of socialism for the entire economy because one hapless airline stock experienced something like this.
Look up First Calgary Petroleum last week. Another example of trading being haulted because of an information leak(s) regarding today's takeover announcement. In this case people would have made a lot of money while it skyrocketed up.