Another "Algo Gone Wild" Bailed Out By Nasdaq After Mini Flash Crash

Tyler Durden's picture

2013 has begun just as 2012 progressed as Granite Construction just plunged 12.6% in under one second. As Nanex shows below, it is simply ludicrous. Of course, the algos (like every entity that comes close to 'failing' in the new normal) will never learn since, as usual, NASDAQ has decided to cancel the trades...

  • *NASDAQ TO CANCEL SOME TRADES IN 'GVA' FROM 11:45-11:46ET AT/BELOW $32.72 11:45AM-11:46AM

S.S.D.Y.

Via Nanex:

On January 2, 2013 at 11:46:56, the stock of Granite Construction Inc. (symbol GVA) tumbled 12.6% in 1 second on hundreds of trades (~50,000 shares). It recovered most of that drop seconds later.

1. GVA - 1 second interval chart showing trades color coded by exchange.



2. GVA - 25 millisecond interval chart showing trades color coded by exchange.

 



3. GVA - 25 millisecond interval chart showing bids and asks color coded by exchange.

 



4. GVA - 5 millisecond interval chart showing trades color coded by exchange. Chart shows about 5 seconds of time.

 



Nanex Research