An unbelievable story about the NASDAQ today:

[mahram]

it must be very very very high. Did they ever found out which institution did it?

Quote from sprstpd:

Because that trader must have had friends in high places.

 

[lokkeilaw]

There are so many stocks on NASDAQ with decent volume. In addition to the risk of keystroke error and lose your whole fortune, the liquidity risk is far too high to yield consistant return.

 

[SethArb]

just be glad you are not trading in japan

anyone else remember last yr the error in
the J COM IPO ... that hit the wires ?

:eek:

 

[murray t turtle]

Quote from DHOHHI:

I agree he got off easy too. Had the trade stayed at $150 he loses $25,000. From his post of losing $1000 they apparently changed the buy to $30. And the avg. daily volume is a whopping 600+ shares. Historical data shows volume is zero many days.

http://finance.yahoo.com/q/hp?s=WBPRK

Why anyone would want to trade it is beyond me. And anyone who has traded for any length of time knows that stocks that are this thinly traded do have very wide spreads most of the time. When I looked at WBPRK yesterday the spread was $2.50 ($25.00 x $27.50). So to get the trade adjusted to $30 is making out okay.

And why would anyone intend to place a sell order at $150 if they knew that it would be busted if it went off? That makes absolutely no sense at all.

================
Well in the heat of the battle confusion those mistakes are understandable.


Sigse asked about ''investor protection ?''
Dont have enough info/technical info about that holding company to trade it or invest it. Helpful YHOO link, usually tells much more.


Looks like some are holding that holding company ;
zero-600 volume, & market making by appointment.
Your broker, sure enough ,had to get,like an appointment.

NasdaQQQ mm & NYSE specialists have treated me better with higher volume. Hope this helps

 

[sigsegvboogman]

Thank you everyone for the comments. Best of luck.