Loading...
Loading...
Speaking exclusively to Benzinga, Quantum Trading Strategies Chief Investment Officer Sean Udall said that the steep drop in Apple Inc.
AAPL stock was due to “stop raid” programs from high frequency traders.
“It's hard to create any broad market weakness if you can't get apple to sell off,” Udall said.
Udall clarified that he's not an opponent of high frequency traders. He said there have been plenty of events like this in the past and there will be more in the future.
“Basically, Apple was due for a drop. It was very overbought. There were several technical indicators flashing that it was due for a correction,” according to Udall.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in