I was asked about some trading in Citigroup that occurred about 10:27am ET Monday morning.
Citi went from $29.80 to $29.42...a drop of 38 cents, or 1.3 percent. In about a second.
Now, this is not a huge percentage drop, but hey, this is Citi, one of the most liquid stocks in the world, not some below-$1 pink sheet phenomenon.
And the amount traded was a bit weird: there was a large bid in the market at $29.80 — that got hit. And then some: a series of big blocks changed hands: 594,000 shares, 79,000 shares, 71,000 shares, 47,000 shares, 37,000 shares, 17,000 shares, and at least four trades of a little more than 10,000 shares each.
That's 850,000 shares sold, in 10 trades. All in less than a second. All at $29.80.