“I want to sell a “b”illion shares.  No wait, I meant a “m”illion…whoops.”  That’s what you call a spike.  This is a snapshot of what happened to P&G stock in a matter of seconds because a trader accidentally typed a “b” instead of an “m” when submitting the trade.  Still think the market isn’t efficient?  Think again.  It washed out that news out of the stock price before anyone could react.

“I want to sell a “b”illion shares.  No wait, I meant a “m”illion…whoops.”  That’s what you call a spike.  This is a snapshot of what happened to P&G stock in a matter of seconds because a trader accidentally typed a “b” instead of an “m” when submitting the trade.  Still think the market isn’t efficient?  Think again.  It washed out that news out of the stock price before anyone could react.

Posted at 3:28 PM (1 year ago) | Permalink