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    Apple stock plummets because of Engadget

    Discussion in 'Apple and Mac OS X' started by mikeymike, May 18, 2007.

  1. mikeymike

    mikeymike Notebook Evangelist

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    This shows how much power and influence a site like Engadget has on investors.

    Engadget posted that the iphone and Leopard OS would be delayed for months and that alone sent the Apple stock dipping. After being proven false the stock quickly rebounded.

    All this is good for Engadget for it shows them how important they have become in the tech internet world. But its scary that they can actually affect millions of trade stocks that could ultimately bankrupt a company just on speculative info

    http://www.dailytech.com/Apple+False+Alarm+Blog+Rattles+Apple+Stock+Prices/article7329.htm



    [​IMG]
     
    mikeymike, May 18, 2007
    #1
  2. Sgt_Strider

    Sgt_Strider Notebook Evangelist

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    This is old news.
     
    Sgt_Strider, May 18, 2007
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  3. Sam

    Sam Notebook Virtuoso

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    Well it also shows Engadget's pathetic attempt at news and controversy.

    And it also shows how anticipated the iPhone and Leopard is.
     
    Sam, May 19, 2007
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  4. pennpaper

    pennpaper Notebook Geek

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    Bloggers are not journalists.
     
    pennpaper, May 19, 2007
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  5. mikeymike

    mikeymike Notebook Evangelist

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    lol, how can it be old news if it happened just on weds afternoon?
     
    mikeymike, May 19, 2007
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  6. Gautam

    Gautam election 2008 NBR Reviewer

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    And then it went back up. Looks like someone must have taken advantage of that and sold AAPL short...maybe Ryan of engadet.com?
     
    Gautam, May 19, 2007
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  7. cashmonee

    cashmonee Notebook Virtuoso NBR Reviewer

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    This is why bloggers are not journalists. They don't take the time to make sure what the are saying is accurate, they just say it and have no regard for what happens in its wake. I know the stock recovered, but what if it hadn't or what if this were something more serious. I just get tired of bloggers being so irresponsible.
     
    cashmonee, May 19, 2007
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  8. Redline

    Redline Notebook Prophet NBR Reviewer

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    Dude, Ryan could have let me in on this before he did it. I could have made some more money off APPL...
     
    Redline, May 19, 2007
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  9. 00fez

    00fez Notebook Deity

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    Aah the applegate as they call it now. Well he apparently called his source who works at apple, he was told that indeed the info came from apple corporate. I don't blame them really.
     
    00fez, May 19, 2007
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  10. pgatz11

    pgatz11 Notebook Consultant

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    Maybe his source is the one who made some selling short =p
     
    pgatz11, May 19, 2007
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  11. Sgt_Strider

    Sgt_Strider Notebook Evangelist

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    Look at the date of his post.
     
    Sgt_Strider, May 19, 2007
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  12. mikeymike

    mikeymike Notebook Evangelist

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    well its NOT old news

    The incident happened noon on May16th. Unless you actually own Apple stock or continiously watch it you wouldnt know what transpired until the day after (may17th).
    And NASDAQ didnt make the Apple stock graph public until 7:55pm that night on the 16th.

    The link i supplied shows a date of May17th at 4:45am
    I caught the article at noon may 18th and posted. So my notification here was a lil over 24hrs from when NASDAQ made it public.
    It would be old news to this forum if there was already numerous posts about it but there wasnt.
    So to your 'old news'...pfffft
     
    mikeymike, May 19, 2007
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  13. gators

    gators Notebook Consultant

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    The exact same could be said for journalists too.
     
    gators, May 19, 2007
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  14. lunateck

    lunateck Bananaed

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    lunateck, May 20, 2007
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  15. 00fez

    00fez Notebook Deity

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    00fez, May 20, 2007
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  16. snowstorm

    snowstorm Notebook Consultant

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    A company can not go bankrupt just because the stock price plummets. Stock price fluctuations have no direct affect on a company's daily operations. What can happen, is a (hostile) takeover, but even that is unlikely, since companies buy their own stocks to destroy afterwards, which also supports the stock price and therefore the total value of the company.
     
    snowstorm, May 21, 2007
    #16