http://www.gamerevolution.com/manifesto/view.php?id=274
A fake e-mail was posted on an Engadet blog that caused Apple to lose $4 billion dollars incompany value.
$4 BILLION with a “B” dollars lost.
However, it looks like Apple’s stock recovered today after the hoax was found out.
http://www.webpronews.com/topnews/2007/05/17/engadget-error-briefly-deflates-apple-stock
Still, that really sucks for Apple and ti definitely shows the dangers of bad reporting.
And to think, William Gibson thought you’d need to be able to hack, ride sharks, and fuck hot, mirror-eyed samurai babes to fuck up a company. Turns out you just need an e-mail account. Shit, you don’t even need to live with crazy rastas.
Man, I totally trust the internets to help me invest ( 
) my money. I got a partnership with a Nigerian guy, a casino and an investment company in Swaziland already.
After RTFM the next big thing will be CTFW. Check the fucking website
So did they ever find out how many rappers were involved in the incident? 
Just to put the latest Apple’s incident into perspective, the huge market cap drop ($4b) equates to a 3.7% decline in the share price, while it seems rather steep, prior to this debacle Apple’s stock had risen about 100% in the past 10 months, and 1000% since 2002. With impressive numbers like that on board, Apple’s shareholders could be forgiven for being a bunch of nervous nellies, and unloading their stocks at the first sign of trouble, even based on a rumor. I wouldn’t be surprised if most of the shareholders dumping Apple then, didn’t even read Engadget, but reacted on some stock alert based on the price/volume movement.
That little dip could be a preview of coming attractions – a significant correction based on some negative developments in Apple’s core business. And just looking at Apple’s stock chart, I am having nightmarish visions of the high-tech bubble and the Spring of 2000 collapse.
Man, that would have been the time to BUY!
… anyone else smell a scam? no, just me?
I would have replied to this earlier, but I was waiting for something concrete to materialize out of the rumor mill à propos that email.
Apple is conducting an internal investigation, but I was expecting the Securities and Exchange Commission to get involved also. Almost two weeks after the incident still no move by the SEC; and its spokesman “could not confirm or deny” whether any SEC action would be taken. Apple was already under investigation by the SEC for an unrelated matter (stock-option backdating), maybe the probe could be expanded if there is a case of stock manipulation.
The manipulation scenario is very plausible – and it doesn’t have to be an inside job - there have been cases where individuals have attempted to manipulate stock prices by circulating fake corporate memos on the Web and on corporate email systems. The short-sellers could have definitely profited by timing their transactions – selling prior to the email dissemination, and closing the position (buying back) at the low point when everybody else is selling. Trading put options during that period would have been even more rewarding.
In any case, this fake email affair is a perfect demonstration of the Stock Market Psychology, or, to be more precise, the Psychology of stock market suckers – where the herd mentality rules supreme.
Ha ha ha ha ha, Apple got owned. How fun.
So who was behind this anyway?