$4 billion Mistake
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- MrD
http://www.engadget.com/2007/05/…
Summary:
Apple company wide got an email indicating that iPhone and Leopard will be delayed till Oct.
An insider sent this email to tech blog Engadget. The blog posts it and 2 min after, the stock tumbles 3%.
Right after that, Apple PR sends out an email telling everyone to disregard that email about the delay saying that they didnt send it out. Someone has spoofed the Apple email and basically mass spammed Apple company wide.
The stock went back up and article retracted but it appears as though this was a conspiracy to sell stocks before the drop and buy them back at the increased price as the stock reclimbed back up due to retraction.
- madirish0
srsly dude?
- MrD0
the power of blog...
- tkmeister0
i noticed a huge volume increase around noon. it was just insane. i thought it was really suspicious. lunch time and you know how wall street people are, tapping on other's shoulder whispering to their ears...
- Brookoioioi0
crazy, wish i'd been online when this story broke, who'd dump their apple stock based on one blog post? You'd have to buy big and fast to really cash in on a scam like this, considering they are going to be looking very carefully at their records...
I wonder if apple hitmen have a friendly interface?
- MrD0
mind you Engadget is one of the top tech blogs out there.
- Brookoioioi0
Sure, and they only get that way by being valuing there integrity, but i still wouldn't dump my apple stock because of a blog post... I guess because i'm not playing that stock market 'game'.
- Brookoioioi0
err, long night, my grammer parser is broke...
- MrD0
i am naked
my clothing parser has been broken for years
- tkmeister0
if i am more of a short term trader, i would dump quick.
but since i am in for a long run and i also follow the news carefully, i know that iPhone won't be delayed. Apple knows that they can't afford to do that and the market knows that.
my guess is it will probably goes up to 120+ after iPhone launch. stay flat for the summer. i think Q3 and Q4 earning report will be very crucial.
- tkmeister0
put your clothes on!
- M0NEYCIDE0
Sounds like an urban legend or something.
- ninjasavant0
Engadget tends to play it fast and loose with apple rumors, they don't really discriminate when it comes to their apple sources and most of the time they're wrong about apple.
- MrD0
o yeah that 3% dip in apple stock was about $4 billion in market value.
- OSFA0
May I interest you guys in some Apple stock?
- Mimio0
Maybe some investors have a sense it's overvalued and they're ready to bail on it?
- sherman0
craziness...really...craziness...
- honest0
Blue horse shoe loves Apple...
- Raniator0
Clever if it's true, but I think the 'buying/selling shares' bit is tosh.
- Raniator0
Haha, yes... I know what it is clever-clogs.
I just don't think a company / trader / group would bother with that particular scam.