On 28 October 2009 around 13:00, shares in SDG (Sunland Group) opened at $0.805, and at 13:00 fell instantly from $0.785 to $0.66 (a drop of around 15%) on high volume (~600,000). The course of sales indicates that the price almost immediately (within a minute) recovered to $0.765, and closed at $0.75.
It would appear there was a large trade significantly below the current market price. Is this unusual? My automatic stop loss was triggered. I wonder how many other traders were similarly affected.
Does anyone have an explanation for a likely cause? Is such price behaviour at all common?
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