PGN’s Flash Crash/ Changing History, from Laurence Glazier
Having arrived at only this candidate stock by a process of selection from the 3000 optionable stocks, the anomaly from 27 September stood out, and I changed the low to be interpolated equally between the days either side.
I have no idea what caused it, I guessed that it was - perhaps? - earnings day, but it seems to have no bearing on matters, and I have offered a trade based on the assumption of what should have happened that day. Should it be accepted, there will be an overhead in daily charting; strange that logic should direct me to the one of the few charts with such an anomaly.
Alex Castaldo adds:
Current data shows the following for PGN on September 27, 2010: Open 44.63 high 44.69 low 38.38 !!! close 44.43.
This is after correcting for cancelled trades on that day:
Sept. 27 (Bloomberg) — Fifty-three trades in Progress Energy Inc. occurring prior to the stock being halted under market-wide circuit breakers were canceled on the Nasdaq Stock Market, according to data compiled by Bloomberg. All of the transactions occurred at 12:57:42 p.m. New York time before trading was suspended when the shares slid to $4.57 apiece, a 90 percent decline from the previous close. Progress Energy rebounded to $44.48 as of 2:33 p.m. in New York.
It appears to have been caused by an inaccurately entered sell order. A "circuit breaker" was triggered, based on a 10% decline in 5 minutes.