FYI: Are we having fun yet? Today’s market open was one of the wildest we have ever seen, no matter what sort of broader market conditions were prevailing. While the Dow bottomed (so far) down over 1000 points, it later rallied most of that back and is now rolling over yet again. As nutty as the wild swings in indices were, though, single name stocks were much, much more intense. After limit down opens, we then saw limits getting hit to the upside in many names. For the Dow 30 — some of the largest, most liquid stocks in the market — there was the same level of pandemonium. From the open to recent prices, AAPL (the largest company in the world) saw its market cap whip upwards by over 9%, while there were 2, 3, and higher percentage point moves in all sorts of other names. Have a look at the opening prices for the 30 Dow stocks in the table below compared to where they were trading an hour after the open at 10:30 AM ET:
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/wild-bids-for-blue-chips-after-horrific-open/
