When a stock goes from $45 to $10,102 in a matter of moments, it's probably a sign someone messed up

[mahatmakanejeeves]

When a stock goes from $45 to $10,102 in a matter of moments, it's probably a sign someone messed up

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Turns Out That Instant 20,000% Stock Gain Was a Mistake

By Alexander Osipovich
Jul 28, 2017 8:15 am ET

A slip-up by Deutsche Bank briefly caused the shares of an energy company to spike by more than 20,000% in 2014, according to a settlement released Thursday.

The revelation came as the bank paid $2.5 million to resolve accusations from Wall Street’s self-regulator and major stock exchanges that it had failed to properly handle botched orders submitted by its clients. Brokers are required to reject orders that are too large or obviously mispriced, to keep them from wreaking havoc on the markets.

One of those orders came in to Deutsche Bank’s U.S. brokerage arm at about 9:33 a.m. on December 23, 2014, according to the settlement documents released by the Financial Industry Regulatory Authority. It involved a client who wanted to buy 50,000 shares of Targa Resources Partners LP, a natural gas pipeline company.

The client, whose name was not released, submitted that as a market order — meaning he or she was ready to pay whatever price Targa’s shares were trading at. Market orders are considered risky because investors can get hurt if prices spike. ... Deutsche’s “smart order router” chopped up the big client order into a set of smaller, high-priced orders that it distributed to various stock exchanges, the settlement said. Within seconds, Targa shot up from about $45.48 a share to $10,102.42.

[angstlessk]

1. Except for those who sold their shares during this 'fluke'?

[ooky]

2. Or it could be one of Tom Price's stocks.

[NobodyHere]

3. Actually it's probably a sign that you should sell