

Elaborate Email Hoax Causes Company’s Shares to Drop - DMBisson
http://www.tripwire.com/state-of-security/top-security-stories/elaborate-email-hoax-causes-companys-shares-to-drop/

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petercooper
By about 0.97% (that is still around £41m of value though).

Given how prices can fall _hard_ on bad news, I'm guessing the majority of
people who can have a real impact on share prices do not focus on Twitter or
mass media, but are instead glued to their Bloomberg terminals or similar?

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hereprompt
The average daily absolute price change for the past year is 0.89%, and the
maximum was 5.27%. I contend that to all intents and purposes this "elaborate
hoax" had no effect at all.

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minimax
I can't speak to the laws in Europe, but in the US I'm fairly certain this
would be classified as securities fraud and would be subject to civil and
criminal penalties. This is not a smart way to make money in the stock market.

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GrinningFool
"The stock was trading at 268.9p at the time when the statement was sent. A
half hour later, it had dropped to 266.3p"

Erm, what? That's normal fluctuation: seems like daily is ~.9% but has gone
higher and lower on no news at all over the last year. I see no evidence to
support a causitive relationship.

Sure makes for a good story though.

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ccbrandenburg
would be interesting to know whether whoever is responsible took advantage of
the price movements of that stock

