Trader's error causes Cebu Pacific shares to fall 38%

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From around P90 apiece, Cebu Pacific Air's stock price closed at just P58 – a wipeout of around P21 billion. Business

MANILA, Philippines – Budget airlineencountered turbulence on the trading floor as its shares dropped by a whopping 38% on Tuesday, July 9, over what analysts see as a trader's error.

"Given that the PSE removes dynamic thresholds during closing periods, it does open the stock to be vulnerable to these types of mistakes," COL Financial said.

 

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