One of the Philippines' largest airlines plunged nearly 40 percent in late trading in Manila. The stock quickly recovered, however, and the explanation for the fall appears to be a so-called "fat finger error.".
Airline Cebu Pacific fell 37 percent just before the Tuesday stock market closed, marking the biggest single-day drop since the company went public., writes the Financial Times.
When trading resumed on Wednesday, the stock surged 50 percent, recovering much, but not all, of its decline. According to an analyst at Regina Capital Development in Manila, the decline was due to a ”major brokerage” placing an incorrect sell order at 58 pesos, instead of 98 pesos.
Source: di.se
