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Anyone affected by the Twitter Flash Crash?

Discussion in 'Twitter' started by Roger439, Apr 24, 2013.

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  1. #1
    For those who didn't read about it, someone hacked AP and posted news about an attack on the Whitehouse forcing stocks to plummet for two minutes and then return to normal. Can't believe the market is vulnerable to tweets now.
     
    Roger439, Apr 24, 2013 IP
  2. Alan Gray

    Alan Gray Peon

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    #2
    No I dont think It effect me alot Its a routine for me now.......
     
    Alan Gray, Apr 24, 2013 IP
  3. ronrule

    ronrule Active Member

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    #3
    Sometimes hacks like this are designed to move the markets.

    Back when Steve Jobs was alive, there was a group trying to hack AP to post a phony article that Steve Jobs had died - the purpose was to cause an immediate drop in Apple's stock, buy some, then sell it off before the day was over once it rebounded as news of the false report spread faster than the news of his phony death. Would have been an easy 15% one-day gain if it had been executed. I don't remember if they were stopped before doing it, or were just unsuccessful in executing, but I remember hearing about this at a tech networking event.

    Follow the money on things like this... if they look for unusual intraday transactions they might be able to find who was responsible.
     
    ronrule, Apr 24, 2013 IP
    Devtard likes this.
  4. Montreal Classifieds

    Montreal Classifieds Active Member

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    The more such cases will happen, the more people will be skeptical to the online breaking news.
     
    Montreal Classifieds, Apr 24, 2013 IP