An Apple Conspiracy? Theories on That $500 Close

There's another explanation for the to-the-penny price besides collusion.

The Internet is abuzz with theories about Apple stock's dramatic closing numberPhotograph by Vincent Oliver/Getty Images

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By Nick Summers

January 22, 2013 at 8:16 PM UTC

This article is for subscribers only.

Shares of Apple closed at 500 on Friday, Jan. 18. Not 499.99, not 500.01—five zero zero point zero zero dollars on the nose. There’s a long history of market watchers having cried conspiracy on Apple stock and for some observers, the impossibly round number was just too much of a coincidence. “I still have that bridge to sell you if you don’t think the fix was in on this,” wrote John Gruber an Apple über-blogger.

A Twitter chorus joined in:
• Proof of stock market manipulation
• If this doesn’t merit an SEC investigation then they should just close
• Can’t imagine all the crazy back-house trading and manipulation that must have occurred to have $AAPL land exactly at $500.00
• I’m reminded again why amateurs shouldn’t get involved in the financial markets