The power of computers in today’s financial world
You may remember my post here about quantum computing. Now read this article:
Internet Bots: Anatomy of a Stock Selling Frenzy - HotHardware
The Wall Street Journal reports that at about 10:45 a.m. EDT on Monday, September 8, “a headline from the outdated report flashed across Bloomberg screens.” At which point, “algorithmic trading mechanisms, which buy and sell stocks based on news headlines and earnings data,” started selling off the United Airlines stock on the mistaken assumption that the company had just filed for bankruptcy. United’s stock plummeted over the course of the next 15 minutes until NASDAQ halted trading of the stock and United issued a statement saying that the rumors of its recent bankruptcy were greatly exaggerated. The Wall Street Journal adds that “UAL’s stock price ended Tuesday’s session at $10.60, down 2.8% on the day and nearly 13% off Monday’s open.”
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About Javier Marti
As an Independent Strategy Consultant, speaker and founder of Trendirama.com Consulting and SunshineHypnosis.co.uk, Javier is dedicated to help organizations, small businesses and individuals to optimize systems, increase profits and make better choices in business and in life. He is the author of the book "Mobile, Domains & The Future"
Javier also shares his knowledge and experience through information-packed and entertaining presentations in English and Spanish.
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