Posted on 09/08/2008 8:35:45 AM PDT by Glenn
...shares were halted Monday following rumors that the airline holding company was filing for bankruptcy, a rumor UAL said was completely untrue. An old news item on United Airlines seeking bankruptcy inadvertently resurfaced on a Web site, triggering a sell-off that wiped out 99% of the company's share price, CNBC reported. Shares of UAL last traded at a penny a share, down 99.9%.
(Excerpt) Read more at marketwatch.com ...
A news service accidentally re-released a piece on UAL filing for bankruptcy 6 years ago. Ouch.
I wonder if someone was attempting to manipulate the price and got more than they bargained for
I wouldn’t mind getting in for a few hundred thousand shares at $0.01...
I tried that the last time and have thousands of shares of ... nothing.
Why can’t they make a rumor of the price of oil falling through the floor? Wouldn’t it be nice if oil fell to a reasonable 15-20$$ a barrel. (Before Soro’s wakes up so he can’t sell all the oil he’sa bid up in an attempt to screw the nation)
Well, there goes our chance to be millionaires. 100,000 shares at a penny a share would have cost a grand. It’d be worth 897 grand now.
Its a false rumor. Somebody posted a story from 4 years ago when they went bankrupt by mistake.
Ah, an honest correction to a fair price. :)
I'd risk 20 bucks on 2000 shares at a penny each. people waste more than that every day on carappy starbucks status symbol coffee.
Chump Change, I have several billion in Monopoly money.
Interesting the way Schwab is listing it. High/low range today is 0.01 to 999.99.
Now that is what I would call buy low, sell high.
And it is halted.
Nothing inadvertent about it. IMO
Still might be worth a call to your broker if trading is still closed. Maybe you can get a great deal during the first few seconds when opening bell sounds. Then dump them in a few weeks when it's all stabilized.
(Don't worry, that would never be allowed to happen) )
ping
The entire stock market has been thick with thieves who pull this crap at our expense. Other than Martha Stewart, when was the last time the SEC has done squat to prosecute insider trading and market manipulation? It’s done every day by what used to be reputable firms. 401K money is like welfare payments to the brokers/markets. Their biggest challange is how to pump and dump five days a week! It’s tough to keep the right news stories floating 24/7/365.
It’s feeding other rumors now. One says NASDAQ is going to halt trade pending an afternoon press release by UAL. This could get fun if the SEC starts looking into who’s trading.
Hello cousin-in-law
I wonder if those who bought at .05 per share today will have their trade honored?If so,they’ll make out like bandits.
NASDAQ is saying trades stand.
I have a hard time believing that, myself.
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