You only lost money that day, if you sold blindly. You are still the one controlling your buy and sell orders.

And with power comes responsibility. If “old media” had of made this huge mistake all the self-righteous bloggers would have been all over them. But when the shoe is on the other foot you don’t lay in to people just as much.

So what if the source was reliable before? You don’t just get their side of things. Engadget should have waited to hear back from Apple. Plain and simple. If the original source was duped, and subsequently Engadget was duped, then Apple may have just cleared this up. If someone says, “Oh Mike Arrington this and that.” Am I just going to post what this someone said without hearing from you first? If I do then it’s irresponsible to not give you a right of reply. It’s that simple. I think that old media is laughing right now.

You must not invest or trade in the market.

You don’t really think a Money Manager saw a posting on a blog and sold millions of AAPL on a whim do you?

This was done to help bring the stock to the $108 rage, and what do you know.. someone stood to lose MILLIONS that day… the calls @ $108 where about to expire.

Whomever is behind this needs to be brought to justice, fined and jailed a long LONG time.

A crime was committed in front of thousands.

What I think is more interesting is the lesson that Apple (and all of us) learned about the fragility of the stock. No wonder they are so secretive about the product pipeline. I’m an investor, long, so this whole thing is of great interest.

and endgadget’s excuse is hilarious - this was a ‘big’ and ‘urgent’ story, dontcha know?

those are the true determinants of whether a story should run or not on Endgadget.com, right? the bigger and more urgent, the faster they publish it. seems like a sure-fire way to guarantee themselves some face time with a judge.

i mean, what would the tech world have done if they actually had to wait, say, another hour or two, for news that the Apple iPhone would be delayed for several months. how would people manage to go on with their daily routines, really, without this critical piece of information? two hours is a _long_ time. in two hours, do you know how many of your friends you could tell that the iPhone was going to be delayed, and therefore you’d have to wait several more months until you could spend entire days doing nothing productive at all?

and the blame rests with Apple, of course. who do they think they are by not responding to a rumour within two hours, outside business hours? don’t they know that they have to respond to _every_ ridiculous rumour that _every_ ridiculous blog can conjure up - all within two hours - preferably much faster? where did Apple get its PR people, anyways? they’re horrible. purely incompetent. fire them all, i say.

the reason EndGadget published this rumor was because they could - they could do it, make heaps of money, and there would be very little if any outfall b/c their readers are uncritical - they just accept as gospel any nonsense they hear.

someone should lose their job over this - preferably the editor who decided to run with this rumor - which has not only destroyed the credibility of Endgadget and other tech blogs, but put a significant dent in the credibility of the blogosphere as a whole.

and please don’t compare the blogosphere to the mainstream media - yet. we’ve a long way to go before the internets are run by the publish-whatever-rumors-you-want-and-let-dead-civilians-and-soldiers-sort-it-out people.

the faster EndGadget goes under, the better off we’ll all be. it’s time for the free market to sort this out - any good libertarian would support such an outcome.

It’s time to ENDGadget, b/c Endgadget sucks. Economic terrorists is all they are.

Happy Friday!

Some people mentioned that not much was lost. I’m long on Apple so it didn’t matter much to me. But, did you see the exchange volume? That’s a huge exchange of money there.

The infamous Watergate reference originated from the Watergate Hotel, where the break-in by Nixon people occurred.

http://en.wikipedia.org/wiki/Watergate

Tony

In the PR world, it’s the PR team/firm’s job to get back to reporters. When I used to write for the Today show, it would take WEEKS for Target to get back to me. I don’t think any PR department is so busy it can’t get back to people. It’s all about priority.

- Please someone explain the “Gate” in all the names … waterGate etc…

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Schonmal überlegt, was passieren kann, wenn eine falsche Pressemitteilung an die Börse kommt? Gestern hat dies dazu geführt das der Kurs von Apple heftigen Schwankungen unterlegen war:

Yesterday Engadget posted that the iPhone was goin…