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Trader Allegedly Attempted To Flip $1 Billion In Apple Stock With Firms Money, Plan Backfired

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A stock trader named David Miller with Rochdale Securities was arrested today on the grounds that he'd illegally purchased $1 billion in Apple stock, or 1.625 million shares on the day Apple released its quarter earnings in October. The idea was to do a quick sell-off when the stocks rose on Apple's reported results, cash out and leave the firm's cash reserv... Read more

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Source  techcrunch.com
Tags       plan apple flip trader

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