Nanex Research

Nanex ~ 5-Feb-2013 ~ Hanes In a Twist

On February 5, 2013 at 15:52:10 the stock of Hanesbrands Inc (symbol HBI) suddenly shot up 3.2% in less than 1/2 second on approximately 380 trades (75,000 shares) executed across 12 trading venues. In seconds, prices returned and even dropped lower than where the ramp-up started. Hanes has a market cap of $3.7 billion, give or take a few percent depending on which millisecond you choose.

1. HBI showing trades color coded by exchange and NBBO (gray shading).
That's not a bad tick - that's over 380 trades from 12 different trading venues all pricing HBI higher. For a few seconds.

2. HBI showing trades color coded by exchange and NBBO (gray shading). Zoom 1.

3. HBI showing trades color coded by exchange and NBBO (gray shading). Zoom 2 - showing about 10 seconds of time between 15:52:07 and 15:52:17.
It's amazing how gullible so many algos can be.

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