Apple Stock Split Rumor Adds Over $100 Billion In Capitalization To The Market In Matter Of Minutes
Courtesy of Tyler at ZH
To all who trade this manipulated lunacy, you have our sympathies. A 1% market move equates to well over $100 billion in market capitalization. And this value just materialized because Apple stock will (allegedly) be $50/share instead of $200, so the quadrillions in cash on the sidelines can buy buy 4 shares where before they could buy one. Just brilliant. Goldman/JPM/33 Liberty just raped everybody for lunch. And to complete the lunacy, this just made top Bloomberg news. The absurdity is just surreal. In other news, the Greek revolution will be televized in 1 minute YouTube 360×240 mp4 clips via iPhone.
Feb. 25 (Bloomberg) — U.S. stocks pared losses, rebounding from the biggest drop in three weeks, as the Dollar Index reversed its advance and Apple Inc. shares jumped.
The Standard & Poor’s 500 Index retreated 0.6 percent to 1,098.49 at 2:03 p.m. in New York after slumping as much as 1.7 percent. Apple pared its drop to 0.2 percent.
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