Today, a hacker-produced Tweet from AP about an attack on the White House sent stocks crashing.
We went back and picked out other examples of “news” flashes on Twitter causing instant market reaction.
Just recently, Josh Brown’s live Tweet-porting from a Jeff Gundlach luncheon caused Chipotle shares to plummet. Here’s the Tweet:
NEW GUNDLACH SHORT IDEA: CHIPOTLE. “Gourmet Burrito is an oxymoron”. Was saving it for Ira Sohn but couldn’t resist mentioning. $CMG
— Downtown Josh Brown (@ReformedBroker) April 11, 2013
And here’s the result:
Bill Gross and PIMCO probably deserve their own separate post on this theme. Here’s a selection:
— PIMCO (@PIMCO) April 3, 2012
Which caused this to happen to Portuguese yields:
BloombergGross also famously Tweeted he believed QE-3 would be revealed at the 2011 Jackson Hole conference.
That Tweet has since been deleted. But here’s what it did to markets:
Last fall, portfolio manager Leo Isaak Tweeted from the middle of a David Einhorn presentation that the Greenlight Capital chief was short iron ore:
We can’t say for sure, but this is what ArcelorMittal trading looked like just afterward:
A fake Tweet from Muddy Waters head Carson Block in January caused a company called Audience Inc. to plunge 25% in a matter of moments; it ended the day down 4%:
Did we miss any?