A 'Fat-Fingered' Trader Forced Company Chairman To Buy His Own Stock Back
- 4 years ago
Oops! The company chairman of Chinese electronics firm TCL Electronics Group had to buy back five million of his own shares in a hurry.
According to Business Insider, that's because one of his traders sold them by accident.
The red-faced trader blamed a 'fat finger' for his error.
'Fat-finger' trades are the result of human error in hitting the wrong key on a keyboard. Such trades can have a massive impact on the market.
TCL Group company chairman Li Dongsheng apologized to shareholders for the trade, and said he would donate $44,000 back to the company.
According to Business Insider, that's because one of his traders sold them by accident.
The red-faced trader blamed a 'fat finger' for his error.
'Fat-finger' trades are the result of human error in hitting the wrong key on a keyboard. Such trades can have a massive impact on the market.
TCL Group company chairman Li Dongsheng apologized to shareholders for the trade, and said he would donate $44,000 back to the company.