AT&T on Sudden Drop Monday

 

AT&T traders saw a sudden meltdown from around $38.60 to $37 on the announcement that AT&T revenues in the next few years will decrease because of the iPhone subsidy. Anyway, that sudden move made all people short selling at around 3:30pm, I presume, and I wasn’t able to react at all! I felt rigid and my jaw dropped with the frenzy. I later regretted my inactivity. However, my seatmate at the trading floor actually profited from that. Lucky guy. Measuring from top to bottom, that’s $160 with 100 shares in a matter of minutes.

 

~ by figsch on June 10, 2008.