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WorldCom Group sets a one-day volume record

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Posted 7:44AM on Wednesday 15th May 2002 ( 23 years ago )
NEW YORK - WorldCom Group has set a Wall Street record, but the company and shareholders likely aren&#39;t celebrating. <br> <br> The struggling telecommunications firm is now the most heavily traded stock in a single day in U.S. history. <br> <br> More than 550 million shares changed hands by the close of regular trading on the Nasdaq stock market. <br> <br> Then more than 100 million shares changed hands in the after-hours session. <br> <br> Investors were reacting to news that Standard and Poor&#39;s has dropped the stock from the S&P 500. <br> <br> That announcement prompted mutual fund managers who attempt to mirror performance of the index to sell the stock. <br> <br> The one-day volume record had been held by Enron, the bankrupt energy trader. <br> <br> WorldCom Group shares ended regular trading down 20 cents or 14 percent at $1.24.

http://accesswdun.com/article/2002/5/194669

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