[funsec] Jumping to a confusion using Google
Richard M. Smith
rms at computerbytesman.com
Mon Sep 8 21:52:29 CDT 2008
United shares plunge on old news story
By Justin Baer in New York
Published: September 8 2008 20:46 | Last updated: September 9 2008 01:59
United Airlines <http://markets.ft.com/tearsheets/performance.asp?s=us:UAUA>
plunged on Monday after a false report that the carrier had returned to
bankruptcy court surfaced on the internet.
A six-year-old Chicago Tribune story on United's 2002 bankruptcy filing,
spotted on a Google search on Monday morning by an investment newsletter,
triggered a massive sell-off of the carrier's shares until trading was
halted. The stock reached a low of $3, then rebounded once trading resumed
to close at $10.92. Shares had ended the day at $12.30 on Friday.
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