Elaborate Email Hoax Causes Company’s Shares to Drop(tripwire.com)
tripwire.com
Elaborate Email Hoax Causes Company’s Shares to Drop
http://www.tripwire.com/state-of-security/top-security-stories/elaborate-email-hoax-causes-companys-shares-to-drop/
7 comments
The average daily absolute price change for the past year is 0.89%, and the maximum was 5.27%. I contend that to all intents and purposes this "elaborate hoax" had no effect at all.
[deleted]
I can't speak to the laws in Europe, but in the US I'm fairly certain this would be classified as securities fraud and would be subject to civil and criminal penalties. This is not a smart way to make money in the stock market.
"The stock was trading at 268.9p at the time when the statement was sent. A half hour later, it had dropped to 266.3p"
Erm, what? That's normal fluctuation: seems like daily is ~.9% but has gone higher and lower on no news at all over the last year. I see no evidence to support a causitive relationship.
Sure makes for a good story though.
Erm, what? That's normal fluctuation: seems like daily is ~.9% but has gone higher and lower on no news at all over the last year. I see no evidence to support a causitive relationship.
Sure makes for a good story though.
would be interesting to know whether whoever is responsible took advantage of the price movements of that stock
[deleted]
Given how prices can fall hard on bad news, I'm guessing the majority of people who can have a real impact on share prices do not focus on Twitter or mass media, but are instead glued to their Bloomberg terminals or similar?