"A six-year-old article mistakenly seen by Bloomberg financial news users ....reported the bankruptcy of United Airlines and triggered a massive sell-off that nearly obliterated the company's stock in a matter of minutes.This is a few days old, but we were talking about it in class and thought others might like it as well.
The light-speed wipeout is a powerful reminder of how quickly bad information can spread via the Internet to a trigger-happy Wall Street that is willing to dump millions in stock before checking the facts.
It exposed the vulnerability of Bloomberg's influential brand name to bogus content."
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[Source: FinanceProfessor.com]
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