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Submitted via IRC for Bytram
No, Amazon and Apple stock did not crash Monday. And if you held Mattel stock, you're not suddenly rich.
But incorrect stock data on the popular Google Finance, Yahoo Finance and Bloomberg sites appeared to be freaking out some investors Monday evening, after test data was apparently misinterpreted by third-party providers to those sites.
As of 11 p.m. Eastern, Google Finance said Amazon.com Inc. shares were down more than 87%, to $123.47. Previously, Yahoo Finance said Amazon was down 74%, to $248.49. In reality, Amazon finished the day down 1.5%, at $953.66, and was up 0.1% in after-hours trading, according to FactSet.
Apple Inc. shares were similarly skewed, with both Google and Yahoo Finance saying they were down 14%, also to $123.47. Actually, Apple ended the day down just 0.4%, at $143.50, according to FactSet, and was up slightly in after-hours trading.
$123.47 — or amounts close to that — appeared to be the common denominator for the test data, wildly skewing some stocks down to that level while others skyrocketed up to it. For example, the test data sent eBay Inc. soaring 253%, Mattel Inc. skyrocketing 473% and Microsoft Corp. up 79%.
Taking stock of those who take stock of stocks.
(Score: 3, Funny) by ledow on Tuesday July 04 2017, @11:24AM (2 children)
But, surely, anyone who cares or does this professionally wouldn't be using a search engine to check their stocks, right? Especially not if they're basing investment etc. decisions on such data.
One day a typo is going to wipe out the world.
(Score: 0) by Anonymous Coward on Tuesday July 04 2017, @01:28PM
At the nuclear missile command:
Intended message: "Lunch!"
Sent message: "Launch!"
Oops.
(Score: 4, Informative) by PiMuNu on Tuesday July 04 2017, @01:51PM
It seems to be originating with NYSE, which many might consider to be authoritative:
https://www.theregister.co.uk/2017/07/04/in_afterhours_trade_on_monday_nyse_deployed_test_code_to_production/ [theregister.co.uk]
(Score: 4, Interesting) by c0lo on Tuesday July 04 2017, @12:15PM (1 child)
Fake news now trending in finance. Interesting times.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2, Insightful) by Ethanol-fueled on Tuesday July 04 2017, @08:34PM
Big Finance has always been a casino rigged by the operators and big players. That it accidentally makes more common people rich is incidental.
Besides, it's not like this is the first time it's happened. Pure economic voodoo.
(Score: 2) by realDonaldTrump on Tuesday July 04 2017, @03:15PM
So typical for the Fake News Media. The Dow hit a new intraday all-time high, but they report this fake shit instead. When Obama was President, the #MSM LOVED talking about stock market rallies! Now they barely mention new all-time-highs. Really great numbers on jobs & the economy. At some point the Fake News will be forced to discuss our great jobs numbers, strong economy, border wall & so much else! I promised my Wall Street people I'd pump up the market and I've done it very well. #PromisesKept! I'm not done pumping, I'll let you know when I'm done. I'll let some of you know when it's time to dump. Jared, you're on the ins. Rodrigo, my beautiful Rodrigo, you too. Stock Market at all time high, unemployment at lowest level in years (wages will start going up) and our base has never been richer! We will always take care of our GREAT INVESTORS. Guys, in life you're either a bull or a cuck. In the market you're either a bull or a bear (Russia, are you listening?). And if you're trading on #FakeNews you're a cuck. 🇺🇸 pic.twitter.com/WYUnHjjUjg [twitter.com]
(Score: 0) by Anonymous Coward on Tuesday July 04 2017, @04:50PM (2 children)
I still can't tell is twitter is just an awful way to communicate or I don't get it. These news stories that amount to copy pasted twitter comments are also bizarre. Is it possible to comment and not allow random people to make money by pasting it on their news site?
(Score: 0) by Anonymous Coward on Tuesday July 04 2017, @07:54PM (1 child)
Think of twitter this way. It ring fences people who find communicating in 140 characters at a time a reasonable thing into their own special little section of the internet. To put 140 characters into context, this brief response is 253 characters long.
(Score: 2, Funny) by Ethanol-fueled on Tuesday July 04 2017, @08:36PM
Twitter: When Facebook, Instagram, Pinterest, Tumblr, and Blogger aren't enough to validate your vanity.