Old Google News story causes stock slump

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Ace Purple
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Old Google News story causes stock slump

Post by Ace Purple »

This is troubling, but it also shows the massive power that Google News holds.

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The US Securities and Exchange Commission has opened a "preliminary inquiry" into how an outdated bankruptcy story sparked a $1 billion run on an airline’s stock value.

The article about how United Airlines filed for bankruptcy in 2002 was revived when it showed up on a newspaper site’s “most viewed” section on Monday.

From there it was picked up by Google News and later seen by alarmed stockholders. The stock plunged from around $12 to just $3 a share before trading was halted.

http://technology.timesonline.co.uk/tol ... 742147.ece
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