United Airlines shares halted after 75 percent drop
This morning shares of United Airlines fell over 75 percent after an outdated article on the airline’s bankruptcy filing resurfaced.
Word on the street is as follows…Just before 11 AM the article, originally printed in 2002, resurfaced on the web site of a Florida newspaper with today’s date. Soon after, the article ended up on Bloomberg’s news service. Within minutes, the stock had fallen to $3 per share. Trading was halted shortly after 11 AM.
Shares regained a great portion of the losses, but still closed down about 11 percent.
The Wall Street rumor mill has been working overtime!
Tags: bankruptcy, halted, rumors, united airlinesRelated Stories
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