a curious girl in a curious world..

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8th September 2008

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United Airlines stock fell 76% today from $12.17 at open to about $3.00 mid morning.  Why the collapse? Because a six-year old story about UAL’s 2002 bankrupty filing was somehow reposted online on the website of the South Florida Sun-Sentinel, a paper owned by the Chicago Tribune Co. It was quickly refuted and the share price recovered after a 90 minute trading halt. Oddly enough, the story was not dated 2002, but was dated September 8, 2008. The Sun-Sentinel editor denies that the newspaper published the article. Wow - how quickly the markets react.

United Airlines stock fell 76% today from $12.17 at open to about $3.00 mid morning.  Why the collapse? Because a six-year old story about UAL’s 2002 bankrupty filing was somehow reposted online on the website of the South Florida Sun-Sentinel, a paper owned by the Chicago Tribune Co. It was quickly refuted and the share price recovered after a 90 minute trading halt. Oddly enough, the story was not dated 2002, but was dated September 8, 2008. The Sun-Sentinel editor denies that the newspaper published the article. Wow - how quickly the markets react.

  1. wezzo reblogged this from dihard
  2. uicukie reblogged this from dihard and added:
    market truly is omniscient :)
  3. ryanyam reblogged this from dihard and added:
    Wow. Imagine if you saw this coming.
  4. ranallo reblogged this from dihard and added:
    I wonder if trades actually went through in large volumes...$3.00? I could have used this...
  5. dihard posted this