Trader mistake sends HSBC shares soaring
Someone out there is probably feeling very daft right now, after a huge fat finger saw some hefty HSBC price action.
A 1.6m share order saw shares rocket.
Over 1.6m shares traded on that $HSBA spike to 688p, possibly a #HFT algo ran amok? Expensive mistake if so! #HSBC RO pic.twitter.com/5OtFjki1ty
— IGSquawk (@IGSquawk) January 30, 2014
After being suspended, they've now returned to the level they were at before the botched order (probably the result of trader or algo error), back at around 630p.
someone somewhere is on the phone to the LSE begging them to bust trades as their risk guy waves a P45 at him. #HSBC #FatFinger #Ouch
— Matt Basi (@MattBasiCMC) January 30, 2014