Amazon stock flash crashes and then quickly recovers

Amazon’s stock dropped sharply and suddenly in a mini-flash crash on Friday during a broader downturn in tech stocks.

The online giant’s stock tanked all within the minute of 2:50 p.m, according to Bloomberg data. Here’s a second-by-second rundown:

  • 2:50:01 p.m.: $US960.55 per share
  • 2:50:02 p.m.: $US930.00 per share
  • 2:50:03 p.m.: $US953.07 per share
  • 2:50:03.5 p.m.: $US927.00 per share
  • 2:50:04 p.m.: $US959.27 per share

Most speculation by commentators is that the flash crash was either a so-called “fat finger” trade or an automated trade, but either way it’s pretty wild.

Yes, in the grand scheme of things, it’s not a huge move for a stock that recently cracked $US1,000 per share, but oscillating by almost $US35 per share in the space of 3 seconds is quite a move no matter what the stock is.

Check it out via Markets Insider:

NOW WATCH: Former Navy SEAL commanders explain why they still wake up at 4:30 a.m. — and why you should, too

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.