Yes, who are those final buyers?
Looking at the latest published numbers from Yahoo:
Shares in float 78 million.
Shares shorted 14 million.
Shares held by institutions, just 1.40% (that should have been a warning).
So I guess most of the buying came from covering shorts if they had orders in during that half hour. Given the broad market decline at the same time, probably many pros even were distracted.
Shutting down trading takes some time. The judge in Delaware can't just pound his gavel and stop trading around the world. 30 minutes would be minimal time. Or should the cancellation occur after the market close, which is common for major announcements? Should the BK judge even care about share trading, when either way there will be winners and losers?
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