Tuesday, September 09, 2008

Tribune, Google trade blame in United Airlines stock fiasco

"Information can live in cyberspace forever. And that cost some investors in United Airlines parent UAL Corp. a load of money Monday.

Shares of UAL briefly plummeted as low as $3 early in the day -- from $12.30 on Friday -- after a 6-year-old story on the company's 2002 bankruptcy filing resurfaced on the Web and was reported as news by an investment letter.

The shares bounced back after the market realized the report wasn't current.

But investors who sold at the day's lows are stuck: The Nasdaq Stock Market, where UAL stock is listed, said trades triggered by the erroneous report wouldn't be rescinded."

1 comment:

Anonymous said...

google's going to 350.

facebook can do an MOE