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:

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