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Message: UAL trades will stand??

UAL trades will stand??

posted on Sep 08, 2008 08:33AM

UAL shares plunge nearly 100% on false rumors

By Christopher Hinton, MarketWatch
Last update: 12:21 p.m. EDT Sept. 8, 2008
NEW YORK (MarketWatch) - Shares of United Airlines parent company UAL Corp. were nearly completely wiped out Monday on false rumors that the company was about declare bankruptcy.
The Chicago-based carrier said it wasn't filing for bankruptcy and called the rumors "completely untrue."
According to a CNBC report, the rumors were sparked by a 4-year old news item regarding UAL and bankruptcy was republished on a news Web site.
Trade of UAL (UAUA:
ual corp com new
Last: 11.29-1.01-8.22%
12:32pm 09/08/2008
Delayed quote data
Sponsored by:
UAUA 11.29, -1.01, -8.2%) stock was halted at about 11:06 a.m. ET when it struck a penny a share. Though trading is still halted, shares have since risen to $8.97 each.
UAL trades on NASDAQ, which in the past has erased trades under similar circumstances, said NASDAQ spokesman Wayne Lee.
Trades will be weighed on a case by case basis if the exchange deems it necessary, he said
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