Shares of United Airlines lost nearly all their value Monday morning when a false rumor swept financial markets that the struggling carrier had filed for bankruptcy protection.
United shares traded at one cent in late morning on the New York Stock Exchange, down 99.92 percent, or $12.29. Its volume was more than 29 million shares. Trading in United shares was halted at 11:08 a.m., pending news from the company. Trading resumed at 12:30 p.m., and by early afternoon, shares had nearly recovered, down 70 cents, to $11.60.
I wonder how many of those who panicked were wiped out. And somebody may have made a lot of money off them..
It is as if China has made a gift to the United States Navy of 200 brand new aircraft carriers