Elaborate Email Hoax Causes Company’s Shares to Drop

http://www.tripwire.com/state-of-security/top-security-stories/elaborate-email-hoax-causes-companys-shares-to-drop/

by DMBisson • 12 years ago

17 5 12 years ago

tripwire.com

ccbrandenburg• 12 years ago

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

petercooper• 12 years ago

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?

hereprompt• 12 years ago

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.

minimax• 12 years ago

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.

GrinningFool• 12 years ago

"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.

Elaborate Email Hoax Causes Company’s Shares to Drop

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