Hangzhou Company Surged to $5 Trillion Market Value for 8 Minutes, Overtakes Apple
A Hangzhou company, Hailiang Education Group Inc, listed on Nasdaq, surged from just above $10 to $200,000, before trading was halted for 8 minutes.
” $5.14 trillion, 6 times the Market Value of Apple Inc “
The surge, a 20,000-fold increase, gave the company a market capitalisation of $5.14 trillion, almost 6 times the market value of Apple Inc, the world’s most valuable company. The transaction was later annulled due to fat-finger error (typo error).
Hailiang is the third largest provider of private K-12 educational services in China and the largest provider of private K-12 educational services in the Yangtze River Delta region (comprising of Zhejiang province, Jiangsu province and Shanghai), as measured by the total number of students enrolled in 2012, according to the CCID Report.
Source: South China Morning Post
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