Weird Trade of Apple Shares Canceled

Posted on May 4, 2011

Reuters report that there was a weird trade in Apple shares yesterday. A trade of just 100 shares was executed at $321.87, which was 7.5% lower than the closing price for Apple shares on Tuesday. Reuters says there were also unusual Apple trades on February, 2010 when Apple shares suddenly dipped 2% and then recovered minutes later.

The freaky trading in Apple shares is reminiscent of the May 6 flash crash last year. Like the flash crash, this could be a glitch or it could be market manipulation. Either way it is disturbing.

Seeking Alpha reports that there was also a flash crash in Jazz Pharmaceuticals on April 27.


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