Price/Volume Correction / Multiple Erroneous Trades etc9 Nov 2020 22:09
Just looking through the messages here and this has provoked me to finally post something. There seems likely to be a vast amount of people that today, during the outages on H&L and various other platforms sold their positions BUT the sale wasn’t reflected in their account and still showed their holding. So people proceeded to sell again, and again, multiple times in error. To the extent that when systems came back online their accounts showed large deficit in cash and negative share holding.
(It happened to me when selling IAG, The same sale went through 3 times and I ended up with -1400 shares and -£2000. Luckily I’ve kept my holding in AVTC untouched through this mess today).
The point is - with this happening to thousands of people, effectively panicking and ending up selling shares that they didn’t have through multiple attempts to sell without knowing each one went through (in error). Surely the volume of selling and pricing has multiplied and compounded in error and therefore the massive tank of the share price is completely incorrect??
This must be due a huge correction following this mess?
Thoughts anyone?