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Title: As Wall Street freefalls, Accenture does a trampoline bounce Post by: HCK on May 07, 2010, 03:00:05 am As Wall Street freefalls, Accenture does a trampoline bounce
Pick a news site this afternoon and you’ll find plenty of analysis, speculation or theory over what happened on Wall Street today to cause the Dow to plunge before heading back toward a recovery.But to illustrate how dramatic the plunge was, look no further than Accenture.Accenture opened at $41.78 and then climbed a bit before flattening out for most of the day. Then, right around 2:45 p.m., with the stock trading at around $40, it plummeted - down to 1 cent. Yes, a penny.And then, two minutes later, it bounced right back up to that $40 level. (Anyone happen to buy in those two minutes?)So, what happened? Like I said, theories galore, including human error involving a trader who typed a “b” for billion, instead of an “m” for million. There’s also talk that it was a computer glitch.By the way, Accenture was down slightly - 2.56 percent, to be exact - for the day. It closed at $41.09 http://feedproxy.google.com/~r/zdnet/BTL/~3/L2JDhQ4__Tg/34155 |