HFT Tractor Beam in Facebook

Joel Elconin and Dennis Dick

HFT Tractor Beam in Facebook

By Dennis Dick & Joel Elconin — Author

Note: From the Premarket Info archive on May 18th, 2012, the Facebook IPO day.

For a five minute period shortly after the open, FB traded in a 5 cent range, which is incredible considering it had just fallen 4 straight points in the previous 5 minutes. It got stuck in the HFT tractor beam, between 38 and 38.05, as underwriters and HFTs battled it out. Here is a detailed analysis of this battle:

Posted to Premarket Info on Feb 08, 2013 — 4:02 PM

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Joel Elconin and Dennis Dick