Six Mega Drops of the Flash Crash; Sam Adams Goes Flat

Exelon Corp. is one of the largest, most powerful utilities in the world, typically worth some $30 billion. For a brief moment Thursday, the stock market said it was worthless.

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Exelon was just one of a number of stocks that produced bizarre, and presumably garbled, market quotes during the “Flash Crash” of the afternoon.

Another was Boston Beer Company, producer of Samuel Adams. During that period, the company hit zero after opening at $59.44. It closed at $55.82.

Boston Beer and Exelon were hardly alone. Here’s a look at a few other companies that endured some of the most extreme swings in Wall Street history.

Accenture:

The consultancy opened at $41.94, hit zero at around 2:50 and then closed at $41.09.

ACN

Exelon:

The utility opened at $43.35, hit zero and then closed at $41.86.

EXC

CenterPoint Energy:

The utility opened at $14.39, hit zero and then closed at $13.88

CNP

TransMontaigne Partners:

The transportation company opened at $27.46, hit zero and then closed at $27.50.

TMP

Impax Laboratories:

Thespecialty pharmaceutical company opened at $18.48, hit zero and then closed at $17.78.

IPXL

Sothey’s:

While the other companies on this list hit zero briefly, Sotheby’s went in the other direction. After opening at $34.61, its shares briefly touched $100,000 before closing at $33.

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    • I recently heard an interview with Richard Clarke about cyber warfare and the prevalence of cyber attacks on the US by N.Korea and China just “testing the waters”. Could this have been such an attack?

    • This is a time in world economics that the United States needs to be viewed as a “safe harbor”. The type of stock market manipulation that we have just witnessed is not helpful and will discourage investment.

    • Strange days. Seeing stocks drop to a penny or soar to $100K means that someone could have made a quick fortune. But I am sure that didn’t happen, right? Wall Street hasn’t turned into a shell game, has it?

    • It was “allowed to happen” I watched CNBC live through that moment of the day. They showed a little panic, but no major concern. Cramer “The Clown” probably shorted the market. Kudlow llooked about as concerned as Ex- Pres., Bush did when informed of 9-11 during his “Goat briefihg” in Florida. The stock BROKERS made extra money. Palin should write a book about it.

    • You watch: no one will be to blame, no policy will be changed, and the thieves on Wall Street will continue to move wealth from Main Street to themselves. The people in charge know exactly why this happen–a trading mistake amplified by automated algorithms. The answer: no automated trading. Will that be implemented? Not a chance!

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