Delayed opening

There are a whole gaggle of reasons stock openings can be delayed. Key nuggets of information not fully, globally digested yet…like the CEO resigning. Yeah, that’s a good one. How about the government indicting the company for fraud. That’s another good one.

Or what about the company pre-announcing they’re going to miss earnings by $14 a share. A big power outage on the east coast? Yep, that can do it too. Some computer malware sent by our kindly loving trading partners. You betcha.

Openings get delayed for good reason, because if all of the information isn’t fairly disseminated, a whole lot of people who should be selling their shares at $38.32 a share ended up selling them for 22 bucks, and will have been financially, uh…damaged.

The whole notion of a fair and orderly market is arguably the single best thing about the way capital markets work in America versus almost anywhere else in the world. The day the country loses its trust from the people who participate in the investing community, well, that’s pretty much the end of everything we know in a capitalist society.