BIG COST: Trading firm Knight Capital says it will suffer a loss of $440 million because of a software malfunction in its systems Wednesday that caused havoc in dozens of stocks on the New York Stock Exchange.
STOCK SLAMMED: Investors abandoned Knight's stock, pushing it down $4.36 to $2.58 in extremely heavy volume Thursday, the second day of steep losses. The stock is now down 75 percent from its closing value of $10.33 on Tuesday.
IMPACT: Knight said in a statement that its capital base has been "severely impacted" by the loss, but also said it's in full compliance with capital requirements. Knight said the company was exploring ways to raise money.
- Investment & Company Information