Knight Capital Looks to JPMorgan for a Life Preser
Post# of 74
Posted On: 08/02/2012 6:24:38 PM
Knight Capital Looks to JPMorgan for a Life Preserver
A technical glitch resulted in Knight Capital (KCG) executing $5 billion in erroneous trades yesterday, leading to a pre-tax loss of $440 million . This is greater than Knight Capital’s $355.9 million market capitalization today , after a 50.1% drop in the stock’s price. The company is reportedly seeking an emergency loan from JPMorgan Chase .
Read more: here
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