Apple Insider claims fund manager Doug Kass yesterday tweeted a rumor of a forthcoming stock split announcement at Apple’s shareholder meeting in order to ‘clear profits’. Kass responded to earlier ‘credit’ for the change in prices writing, ‘If you think one person can move Apple on a rumor you are in the wrong business.’
One person can’t move Apple on a rumor, but it only takes one person to start a rumor. I’m pretty sure I’m in the right business ;-)
As an aside, if you have the time or inclination, the Apple Insider post recounts Jim Cramer’s famous explanation of how hedge fund managers manipulate markets.
And here’s Cramer on The Daily Show with Jon Stewart.