Tag: finance

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Engadget Post Drops Apple Market Cap by $4 Billion in 6 Minutes

Engadget posted some information about a supposed delay of Apple’s iPhone and almost immediately the floor fell out on Apple’s stock. Massive selling took the stock from $107.89 to $103.42 in six minutes. That means roughly $4 billion in market cap was erased in a few minutes from a single paragraph of a blog post! Of course it was quickly fixed and the stock bounced right back. I just thought it was interesting to see how quickly this kind of thing can happen.

[The original Engadget post (now edited) | Apple Stock on Google Finance]