Wednesday, August 1, 2012
Very weird activity has happened at the NYSE today.
It started not long before 10:00 AM, when people noticed some very volatile action in a select list of stocks. Volume was ginormous.
Right off the bat, people suspect some kind of algorithmic trading fiasco.
Word quickly spread through the trading community that the issues were centered around Knight Capital, a market maker.
Shares of Knight Capital, the market maker, immediately got slammed. They’re down nearly 11% now 24%!. People think the technical issues are originating from them.
You could easily see the stocks taking weird, glitchy swings.
Via trader and twitter Echo Mike, check out this big, inexplicable drop in Netsuite (6%).
Via Yahoo Finance.
CNBC is reporting that Knight Capital is not commenting, but that traders are all still pointing at Knight Capital.
This article was posted: Wednesday, August 1, 2012 at 8:54 am