SPDN - Equity Moves Fund Flows And Fear
By Aneet Chachra, CFA
On January 2, Apple (AAPL) announced its Q4 results would be weaker than expected. Trading in Apple shares was halted at 4:30 p.m. New York time (well after the official 4 p.m. market close), the press release came out and shares resumed trading at 4:50 p.m. Large asset managers rarely trade after hours. But a few investors quickly evaluated this new information, and the price of Apple stock immediately reset about 8% lower. Four million shares traded that night, only around 0.1% of Apple's outstanding shares. But this was enough to