The Trading Deck - Market Talks, Ideas & Opinions
- Thursday, 02 August 2012 16:17
- By 8 Ball
Knight Capital Group (KCG) closed down over 62% today! This is on the heels of a 33% loss yesterday. They announced a $440 Million loss as a result of a rogue algo. Rumors of bankruptcy knocked the stock even lower after the close.
As Hank Williams Jr once wrote, "It's all over but the cryin'." You know what? It may be time to break out the handkerchief. This is going to have some serious implications for the financials in the near future. Let's keep an eye on all related names.
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