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TWTC Stock Explodes In "Clearly Erroneous" Algo Finger: Another Case Of Mistaken Twitter Identity?
With the TWTRQ bankrupt pennystock fiasco dead and buried (courtesy of a ticker change many thought the algo trading issues surrounding 2013's TWTR mega IPO were resolved. Maybe not. As the chart below shows, TW Telecom briefly soared tenfold as yet another algo went berserk, sending the price from $30 to $300, and the market cap from $4.4 billion to $44 billion.
The trade was so grotesque even the exchanges noticed:
- NASDAQ PROBING POTENTIAL CLEARLY ERRONEOUS TWTC TRANSACTIONS
So aside from the obvious trade screw up, one wonders: was this just another case of mistaken ticker identity euphoria. After all TW Telecom's ticker: TWTC. That of Twitter: TWTR.
And if so, now may be a good time to put on limit sell orders 20% above the NBBO in all other permutations of TWT_ tickers.
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I cannot take it anymore.
I need a break from the stupidity.
I do not blame you bro,
try some kind liquidity:
http://www.dogfish.com/brews-spirits/the-brews/occasional-rarities/ameri...
Total nonsense. They wrote the bad programs they should eat the losses. I wonder how many people have bought stocks that lost value (i'm thinking every recent IPO) and wanted to go "Hey I bought this and it was supposed to go up, it was clearly a mistake give me back my money".
Clearly, this is all due to the 140 character limit on tweets.
start drinking early, its what i do.
Suddenly, all your political posts fit. ;)
Amen.
This conforms to the Deficient-Market Hypothesis.
<--- it was the squid, trades busted
<--- other than squid, trades stand
If the trade doesn't belong to the squid they would just break them. After all these are free and efficient markets we are talking about.
We need to give the big banks back their money from this in-error trade. They obviously deserve to use all the technology without any of the drawbacks. We OWE them that!
Next step- Ban any stock symbol with any T or W in it.
Plunging new depths of fucktardery, hard to believe, but new depths are reached daily.
I am going to go grab some
RBS Oil Trendpilot ETN (TWTI)Only trading at $20.00 right now...only a matter of days before it hits $2,220..
Tweet everyone you know after you make the trade and give everyone a shout out.
Buy any stock that starts with 'T'.
As in tulips?
Cool.
So where's the blinking lights and crinkley paper?
SQUIRREL!!!!!
this market is so fucked up
clearly we have to find the patient zero who is responsible for this
george zimmerman
Watch orders for TWAT skyrocket.
Of course, they have a high demand product.
I've got friends who feel some shared TWAT is worth north of $300.
How much for the puts?
Why do I think Twitter ipo will be the top of this bull (shit) market
Technology is great. You can blame a lot of things on technology that you could never get away with blaming on some dumb ass human.
next up: TWTI
This happened often in the late 1990's and early 2000; but on a much, much larger scale.
Scale is often best appreciated in markets in terms of volume. This is not 1999 all over again but the builders South of Market in S.F. seem to think it is.
The general econ is in much worse shape and the hue and cry will dwarf 2001-2002 when you saw Ryder rentals in the streets every day as tech heads moved out of the city.
I am looking for a 40% off sale in 2-3 years on those spankin' new condos SOMA.
Im beginning to wonder if the wheels are never coming off this shit wagon.
Resolve and evolve
never do or do what you are told
Keep you mind split because you keep being a hit
weak and numbs minds you got the force to keep them in line.
Put on a diaper and clear out your ideological illusional peter pious piper.
Biatch!