Damn..a far as costly mistakes go this one is pretty much right up there with the costliest f**k ups ever. Actually it’s the single largest drop in stock market history. Financial printing company R.R. Donnelley & Sons Co is being blamed for the early release of Google’s third quarter financial reports which resulted in the tech giant losing $24 billion in the space of 8 minutes yesterday.
“Google’s catastrophic plunge on the stock market on Thursday has heightened fears among prominent investors that ‘the bubble has burst’ for Internet giants.
“Google blamed financial printing company R.R. Donnelley & Sons Co. (RRD) for the early release of results that showed a profit shortfall.The company’s third-quarter results were filed with regulators and made available to news wires. ” [MailOnline]
Someone at RR Donnelley is not having the best day today i gather.