Actionable news
0
All posts from Actionable news
Actionable news in BBRY: BlackBerry Limited,

Cramer: 6 years after the Flash Crash, nothing has changed

Friday marked the sixth anniversary of the Flash Crash, where the Dow Jones Industrial Average fell almost 1,000 points in just a few mysterious minutes. Since that time, Jim Cramer says things have not gotten any better.

On the day of the Flash Crash, buyers seemingly vanished from the market, allowing a frightening plunge to occur right before the world's eyes.

Cramer instantly recognized the toxic combination of aggressive short-sellers and high-frequency traders who vanished whenever the selling got intense as the root cause of the crash.

Even as the market recovered from its losses that day, the incident wrecked the confidence of home gamers after they couldn't withstand losing that much value in the blink of an eye.

"Nothing has really changed to stop the market from once again losing its integrity in 15 minutes of insane, manipulated trading," the "Mad Money" host said.

That is why when Wynn Resorts CEO Steve Wynn ended his earnings conference call with a tirade...


More