Meet Today's Berserk HFT Algo-Driven Flash Crash: Magnum Hunter Resources

Tyler Durden's picture

Today's flash crash du jour comes to you courtesy of Magnum Hunter Corporation (MHR), which in the span of a few tick lost half its $500 million market cap. Unlike most other such HFT triggered events, there was actionable news, after the company announced it would acquire NuLoch Resources, yet still the fact that a selling algo can take out virtually the entire orderbook half way down to zero would once be considered at least modestly surprising. Not so much anymore.