Knight Tanks 30% And There's A Report They Could Face A Loss Up To $300 Million Following This Morning's Glitch

Shares of Knight Capital are continuing to get spanked this afternoon following a weird technical glitch this morning.

Shortly after the opening bell, there was a lot of trader chatter that an algo problem at Knight was causing some wild swings in a bunch of stocks.  

The company’s stock fell following those initial reports and has continued to decline even more throughout the trading day. 

Knight later released a statement saying it was a “technology issue occurred in the company’s market-making unit related to the routing of shares of approximately 150 stocks to the NYSE.”

This afternoon, the New York Stock Exchange said it was going to cancel six different trades associated with the glitch. 

The stock was last down more than 30% in late trading.  

Also, this news was just Tweeted by Fox Business Network’s Charlie Gasparino… 

Knight Capital Tweet


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