Stock traders have recently had to deal with high-speed, stock-swapping computers, rogue computers sending prices haywire, and even a rumor that Hurricane Sandy flooded the New York Stock Exchange, and today some hoax tweets temporarily send one company's stock tumbling. According to Reuters , the stock price of Audience Inc. dropped more than 25 percent this afternoon, thanks to some tweets that appeared to come from stock-trading firm Muddy Waters. The offending tweet said that Audience was being investigated on Department of Justice fraud charges, and the shares fell from about $12 to a low of $8.87 in a matter of minutes.
However, traders quickly realized that the Twitter handle the tweet came from had only 11 followers. The actual...
via The Verge - All Posts http://www.theverge.com/2013/1/29/3930010/false-tweet-sent-a-companys-stock-plummeting-25-percent
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