RIMM- Fake first headline:

Noticed Citigroup just downgraded Rimm to sell from hold (briefing). But there was just huge buying off the 102 level. What's next?
 
Here come the leftist conspiracy nuts! How dare you question the official story!

You are just jealous of the capitalists who made so much money on this. :D

Why oh why do you hate their freedoms to rig the market?
 
Quote from kowboy:

Noticed Citigroup just downgraded Rimm to sell from hold (briefing). But there was just huge buying off the 102 level. What's next?
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What's next? GAP FILL *evil grin*
 
This is why you should have read the 2nd half of "Reminiscences", Rearden. Covers this very subject, from someone who had been on both sides of the "news".
 
Quote from Rearden Metal:

Background: About an hour after today's close, RIMM's earnings report still hadn't been released yet. Then came the headline (on briefing) I'm paraphrasing- "RIMM to delay earnings release due to options backdating problems". The stock instantly dropped from 86 to 80 in AH trading.

Then, less than a minute later comes the blowout earnings release and the stock rockets straight up into the mid-90's.
A few minutes later, briefing was kind enough to mention that the first headline was a mistake (Gee- ya think?) Then Briefing erases both the fake headline and the correction, as if both had never happened.

My questions:

1) Did this fake headline appear anywhere other than briefing?
<b>Was Bloomberg's news on RIMM accurate?</b>

2) Where the fuck does <b>fake news</b> come from? Anyone else get the feeling this was anything but an honest mistake?
IMO, this looks like a deliberate manipulation, designed to create an opportunity for the manipulators to pick up some cheap stock.
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Man this is one sick , sick story. I'm glad I wasn't watching or trading this or I probably would've had a heart attact.

I did see something wild like this w ISRG, it was trading @ 127 into earnings. Earnings were announced, the stock went over 140 briefly, enough to crush weak shorts, and then incredibly swooned to under 120 within the next 15 minutes, and finally went under 100 within a few days. Now thats commodity price type movement. And this had no fake headlines, which the RIMM obviously did, and that should be investigated.
 
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