UAL stock falls after Sun-Sentinel posts old story

Today was not a good day for the Florida Sun-Sentinel in Fort Lauderdale and UAL, the parent company of United Airlines.

Someone at Sun-Sentinel posts a 6-year-old story Sunday by the Chicago Tribune about UAL bankruptcy as a current story. Income Securities Advisors Inc., a Florida-based investory information service, distributed the report on Bloomberg terminals on Monday, after having first saw the story on Google Monday morning. According to Forbes, in 10 minutes 24 million shares changed hands and the stock fell to $3. Before NASDAQ halts trading, UAL stock has fallen from $12.16 a share to 1 cent a share. When stock reopens, about two hours later, stock recovers to $11.22, down only 8.77%.

As Sun-Sentinel sorts through what happened, one point is that the date of the article was not shown. One unanswered question is whether NASDAQ will allow the trades, but when similar things have happened in the past they did not block the trades.

Editor & Publisher: United Stock Nearly Wiped Out on Old ‘Chicago Tribune’ Story
Forbes: Inside The UAL Story Debacle
Bloomberg Television: United Parent UAL Says It Didn’t File for Bankruptcy

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