Quote:
Originally Posted by Lucky LITE
Does anyone know how low the price of AAPL was during it's mini flash crash today. It seems like all of the charts out there just delete the flash crashes.
lol, stupid media dumbasses like cnbc misuse phrases and misrepresent what happened.
liqudity is provided via ecn's. The company bats, has 2 of the major ecns, bats and batty.
Bats recently became an exchange, and their ipo today was the first major one on their own exchange. At 10:45am when bats was supposed to come in, their system just got ****edddddd.
They then declared self-help versus everyone and as such people stop putting bids and offers in on bats and batty because orders get stuck and it's just ****ed up.
Someone must've tried to sell stock on batty, and after filling most of their order at the current price on other venues (ty reg nms), they hit the highest batty bid for their last 100 shares which was at 542.80.
Due to the stupid circuit-breaker rule, the stock was halted for 5 minutes, then came in business as usual.
The reason you don't see the print is because the trade was broken, since breaks for stocks over $50 are 3%.
There is a MASSIVE difference between a stock trading down to a price, and someone hitting through 50 points on an ecn.
This is a complete nonevent that is only talked about because wtf else are those idiots going to fill their time with.
Last edited by Jeffmet3; 03-23-2012 at 07:42 PM.