Nanex Research

Nanex ~ 24-Jan-2013 ~ Uncomfortable Liquidity

On January 24, 2012, the stock of Select Comfort Corporation (symbol SCSS), which has a market capitalization of $1.6 billion, dropped 5.1% on about 250 trades (40,000 shares). The price rebounded seconds later. A successful implementation of synthetic stub quotes?

1. SCSS showing trades color coded by exchange.

2. SCSS showing bids and asks color coded by exchange. No shortage of disappearing bids.

3. SCSS - zooming in to 1 second of time.

Nanex Research