Cebu Air Plunges 38% After Trading Error by Local Broker
Shares of the Philippines’ largest budget carrier plunged by a record, wiping out 21.3 billion pesos ($415 million) in market value, after a local broker made a trading error.
Cebu Air Inc. (PSE: CEB) slumped 38% in the last few minutes of trading and the volume of shares changing hands was below the three-month average.
