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Darren Rovell brings you his unique take on the business of sports: a multi-billion dollar global industry and obsession full of personalities and products. On Sports Biz, Darren will give you his up-to-date take on everything from salaries to endorsement deals to marketing and promotions, trades and tirades – in short, everything that makes sports so exciting.
"Tiger Effect" Hits Wall Street During U.S. Open Playoff
By: Darren Rovell
Sports Business Reporter
Sports Business Reporter
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AP Tiger Woods playing at U.S. Open |
With action starting at noon and finishing past the close, it theoretically slowed down four hours of the trading day. Well, this morning, I got the hard numbers from our number cruncher Ariel Nelson.
Check this out:
Average New York Stock Exchange Volume, between 12-4 pm. (last 30 days): 781.5 million shares traded.
New York Stock Exchange Volume between 12-4 pm (yesterday): 709.9 million shares traded.
That's a drop in trading on the NYSE of 9.2 percent. In fact, it was the lowest trading day since the Friday and Tuesday that sandwiches Memorial Day weekend.
How's that for the "Tiger Effect?"
Questions? Comments?
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