"FTC Files Case Over Licensing Practices"
January 17, 2017 at 1:20:00 pm (EST) — The Federal Trade Commission (“FTC”) releases a press release that they’ve filed a complaint in federal district court charging Qualcomm Inc. with using anticompetitive tactics to maintain its monopoly in the supply of a key semiconductor device used in cell phones and other consumer products.Read The Press Release
A few seconds after the press release, NewsHedge alerted its clients to the unusual trading event at 1:20:33 pm (EST) as shares instantly dropped from $66.66 to $66.03.
As news broke, Wall Street instantaneously took to Twitter to share information. According to Metricle's quantitative Twitter data, Twitter posts for Qualcomm produced a negative “sell” signal—as visually seen below.
Over the next several trading sessions, our quantitative data continued to produce a negative “sell” signal—giving our clients even more conviction to remain short, or to add to their short position.
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