Cebu Air Gains 50% After Recovering from ‘Fat Finger’ Trading Error
Shares of the Philippines’ largest budget carrier gained by a record 50% at the open Wednesday to partially recover losses triggered by a local broker’s trading error the day before.
Cebu Air Inc.(PSE: CEB) climbed to 87 pesos, rebounding from a record slump on Tuesday. The company’s shares plummeted 38% to 58 pesos in the last few minutes of trading yesterday, triggered by a misplaced order during the Philippine Stock Exchange’s no-cancel period. The stock had closed at 93.4 pesos on Monday.
