Trades on the trading floor of the NYSE turned to their screens and many were just frozen not believing what they saw. Excelon, the gigantic Illinois utility holding company was at near ZERO stock price trading at 41 cents down from $41 dollars! It was showing a 99% price drop. Worse yet, BOSTON Beer (maker of the Samuel Adams beers) which traded at about $48 a share, was down to ZERO!!!!
Probably when they saw BEER at zero, they realized that it was impossible, and then started to realize something was wrong.
Many other top stocks were acting similarly so traders did not know what to do, buy, sell, wait, hold...total pandemonium ruled.
Expect that the administration, composed of 95% of people who had no real job, to want more "controls" again.
Dow stocks plunged 9 percent in the last two hours of trading before
clawing back some of the losses. Nasdaq OMX
trades with price deviations of more than 60 percent between 2:40 p.m. and 3
p.m. from their 2:40 p.m. levels, and the New York Stock Exchange said it would
similarly cancel trades on its all-electronic NYSE Arca platform that deviated
over 60 percent from their last print at 2:40 p.m. between 2:40 and 3 p.m.
Some stocks dropped to nearly zero before rebounding. The following is a
list of some of the biggest drops, as well as some large cap companies that had
significant drops.
COMPANY PREVIOUS PRICE LOW PRICE PCT CHANGE
EXCELON
BOSTON BEER
CENTERPOINT
BROWN & BROWN
IOWA TELECOMMUNICATIONS
SERVICES
CASEY'S GENERAL
EBIX INC
PROCTER & GAMBLE
APPLE
3M
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