Black Wednesday – October 21st, 2015 – The Last Time a $50+ Billion Stock Declined 40% Intra-day

by TheLongShortTrader

Today will be a day to remember for many market participants. It is a day I will never forget. Today bore a faint resemblance to the October 1987 crash, but for stockpickers.

Valeant Pharmaceutical’s stock fell intra-day (at its lowest point) -40% . -40%!!! That’s right, a $50+ billion market value company declined 40% in value within the day. That rarely happens.

I may write a more coherent post later, but here are a few things I’d like to write so that I can look back to this day in remembrance:

• Congratulations to the public shorts and skeptics — Roddy Boyd, John Hempton, that AZ_Value guy, Jim...
  

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