Apple Stock Trading Halted Briefly on Sudden 9% Drop

BusinessInsider reportssome strange activity on Apple's stock today. Trading was halted due to an abrupt drop of over 9%.The stock crashed 9% to $542.80 before trading was stopped. When the stock started trading again, it opened at $598.39Trading has since resumed, but there has been no clarification on what happened. StreetInsider speculates that it was "an apparent errant trade".

Image of drop from WSJ

With news of the dividend and record iPad sales, Apple's stock has been at all time highs in the past week.

Update: Bloombergpinpoints the issue to a single trade for 100 shares executed by Bats Global Markets Inc.Bats sent a notice about 10 minutes before the Apple trade saying it was investigating “system issues” affecting companies with ticker symbols ranging between A and BF. Apple’s is AAPL.

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