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Date: a month ago   Category: Finances

Stocks of small Chinese firm rose 70 thousand percent because of confusion in designations


Investors mixed identifiers of quotations of the companies at the Nasdaq exchange. The expert Evgeny Kogan considers that the human factor of the Photo is guilty: Carlo Allegri/Reuters of the Stock of small Chinese firm Zoom Technologies flew up for 70 thousand percent after investors confused it with the large company with the similar name. It occurred shortly after business of cloudy videoconferences of Zoom Video Communications submitted the application for the IPO. However "bulls" confused a ticker, that is the identifier of quotations of the companies at the exchange. In Nasdaq it was designated as ZM while the Chinese firm was designated as ZOOM.B a result skupatsya without exception stocks of the modest Beijing company making details for mobile phones. The incident is commented by the president of the Moscow Partners company Evgeny Kogan. Evgeny Kogan the managing director of the Moscow Partners company "Such stories are a rarity, but it, in principle, happens. The matter is that there is a concept of a human factor. You know, I not once or twice faced it when the trader messed up, mixed something, not pressed that button or pressed, only not a finger, and accidentally the trader of villages it. I very well remember, for example, there was some transaction on MICEX, absolutely impossible, then ran and cancelled all this business. The markets are after all people. It both mood of people, and emotions of people, well and mistakes of people. And people are such beings who only and do that mess up". According to the description on Yahoo, in the Chinese company Zoom Technologies only ten people while in the Californian Zoom Video Communications nearly one and a half thousand people work work, and the company costs about 9 billion dollars. To add BFM.ru to your sources of news?

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