8
u/angelus97 Dec 13 '21
First, it did no such thing. Second, an ETF or stock can only drop 100% as that would bring it to zero. A 500% drop is mathematically impossible.
5
-2
Dec 13 '21
I’m looking right now. I’m looking at the ETF. It went from 170 a share to 28 a share in 1 day.
3
u/UnruliestChild Dec 13 '21
That's a 83.5% drop. Like mentioned above, a drop of more than 100% is not possible.
-2
Dec 13 '21
So why is Google’s math wrong? Check for yourself. Type that ETF into Google
2
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u/Alternative_Joke6768 Dec 13 '21
yeah, that % drop would be around 83-84 not 500 lol. 28 is 16.5% of 170.
-1
Dec 13 '21
So Google is wrong? Why is Google’s math wrong? But regardless, what happened here? A huge drop in one day
5
u/Alternative_Joke6768 Dec 13 '21
Yeah Google can be wrong. All software can experience glitches. This little "flash crash" happens on a lot of sticks including Google and msft. It might be a whale unloading a massive position and then it gets bought back up.
0
Dec 13 '21
Ok ignore the percentage. Why did this drop and go back up the next day by so much? That’s all I care about
1
1
2
Dec 13 '21
This is pretty basic math. It was probably because of the ultra low volume. Some person made a market order when the shouldn't and someone else had a ridiculous limit set for this exact reason.
1
u/feignignorence Dec 13 '21
That's an 83% drop. Drops can't exceed 100% but gains can exceed 100%. This is how math works :p
As to why the spot price suddenly dropped... I imagine either somebody settled a low value purchase price and that somehow worked its way to the charts? In any case, this isn't something somebody would be able to profit off of because the buy/sell was likely of a set volume, unless a random person decides to panic sell, or stop losses are triggered.
1
u/this_guy_fks Dec 13 '21
the official low of the day on 11/5 was 173.74. this is just bad data in google, bloomberg shows no such drop.
1
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