Apple Stock Trading Halted Briefly on Sudden 9% Drop

BusinessInsider reports some strange activity on Apple's stock today. Trading was halted due to an abrupt drop of over 9%.

The stock crashed 9% to $542.80 before trading was stopped. When the stock started trading again, it opened at $598.39

Trading has since resumed, but there has been no clarification on what happened. StreetInsider speculates that it was "an apparent errant trade".

Image of drop from WSJ

With news of the dividend and record iPad sales, Apple's stock has been at all time highs in the past week.

Update: Bloomberg pinpoints the issue to a single trade for 100 shares executed by Bats Global Markets Inc.

A single trade for 100 shares executed on a Bats venue briefly sent Apple, the world’s most valuable company, down to $542.80, triggering a circuit breaker that paused the shares. The order was executed at 10:57 a.m. New York time. Two more transactions, which sent the stock back above $598, were made before the halt. The stock stayed around that level once trading resumed.

Top Rated Comments

(View all)
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112 months ago
Apple's stock beachballed for a second.
Score: 37 Votes (Like | Disagree)
Avatar
112 months ago
It was that Samsung VP of Design doing something "creative". ;)
Score: 24 Votes (Like | Disagree)
Avatar
112 months ago
Someone, somewhere just had a mild heart attack.
Score: 17 Votes (Like | Disagree)
Avatar
112 months ago
Yet another trading robot gone bananas.
Score: 14 Votes (Like | Disagree)
Avatar
112 months ago
stock trader is probably the most unnecessary profession in the world.

Become a farmer, grow food.
Become a construction worker, build something.
The world would be a better place for sure.
Score: 13 Votes (Like | Disagree)
Avatar
112 months ago
The trade hamster fell off the wheel.
Score: 13 Votes (Like | Disagree)

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