A Deeper Dive Into Home Depot's Flash Crash
A half hour before the market closed on Tuesday, shares of The Home Depot, Inc. (NYSE: HD) experienced a flash crash.
Benzinga spoke with Dennis Dick, co-host of the #Premarket Prep show, about the issue.
A recap of the events are below:
1. Home Depot was trading at $96.24 as of 3:55 PM, thus making the 10 percent limit at $86.62. Notice the large prints under $87.00 that took place.
Dick, for one, places blame on a “fat finger” and ineffective order-routing (the order was only sent to NYSE, bypassing better liquidity on the other exchanges) as opposed to the high frequency trading crowd.
2. There was no chance, he said, of human intervention by a “specialist” or a “designated market maker” to validate the size of the order.
Check out the rest of the discussion here:
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