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Opinion
Matt Levine

Citi Did a Flash Crash

Also SEC crypto and cyber, Twitter equity syndication, newsletter insider trading and BS.

If you are a person, and you own 100 shares of Company X stock, and you want to sell it, one way to do that would be to go to your computer and log into your brokerage’s website and press the button to sell the stock at the market price. That will basically work. If the stock last traded at $100, you will probably sell your stock at a price very close to $100 per share, maybe $99.99 or $99.998 or whatever.

If you are a trader at a big bank, and you own 100,000 shares of Company X stock, and you want to sell it, one way to do that would be to go to your computer and open your trading program and press the button to sell the stock at the market price. Oops! No, don’t do that. If you do that you might get stories like this written about you: