Misleading title. The drop occurred over about 10 minutes, and has partially reversed. As of 3:06 it's -400 for the day. The VIX is also up into the high-30s.
Not to say this isn't August 6, 2007 or September 12, 2008. It may well be.
Not to say this isn't August 6, 2007 or September 12, 2008. It may well be.
I was listening to two different people at the same time, and I'm away from my real-time charting program so I coudln't check.
I just changed the title to reflect.
Holy Shit. Accenture dropped from $40 to $0.01, and now it's back in the high $30s.
Regardless of the details, this is an example of how markets aren't perfectly efficient.
[citation needed]
You might as well consult a historian.
No. Just that the last reported transaction may not be `true' price.
There are other arguments against efficiency of markets, but this isn't.
According to the data I'm seeing for ACN now, the whole drop happened over a 1 minute period, and was back up the next minute.