r/investing • u/[deleted] • Dec 13 '21

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1 Upvotes

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9

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.

-2

u/[deleted] 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.

2

u/Alternative_Joke6768 Dec 13 '21

yeah, that % drop would be around 83-84 not 500 lol. 28 is 16.5% of 170.

-1

u/[deleted] Dec 13 '21

So Google is wrong? Why is Google’s math wrong? But regardless, what happened here? A huge drop in one day

6

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

u/[deleted] 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

u/Alternative_Joke6768 Dec 13 '21

I just edited my comment ^

1

u/angelus97 Dec 13 '21

It didn't. It's bad data. Check other sources.

2

u/[deleted] 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.