Apple Stock Dives On Fake Insider Tip

May 18th, 2007

AppleOn May 16th, Engadget posted a blog entry stating there would be significant delays for upcoming Apple products. Seven minutes later, massive sell-offs caused Apple’s stock to drop by over $4 a share, reducing its market capitalization by $4 billion. Here at Chad’s News, we monitor Engadget on a weekly basis for stories of interest, but I had no idea they were –that– influential. What’s worse, however, is that their source (an email from inside Apple) turned out to be a hoax. The email was from within Apple’s mail system, but the facts were incorrect.

Note that the two stories below differ in their facts by about a dollar of stock price drop, so you be the judge.

Link #1: http://www.techcrunch.com/…
(via digg)

Link #2: http://www.washingtonpost.com/…
(via Kim Komando)

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