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Before the shares started trading the estimated price reached $45, triggering a wave of sell offs that Nasdaq could not handle, said Hamadeh.
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It hardly bodes well for the next wave of sell-offs.
But concerns about European banks are driving the latest wave of selling.
A wave of selling in a stock market is a panic.
There was no shortage of theories yesterday about what unleashed the wave of selling on Monday.
No development stood out as a cause for the latest wave of selling.
A wave of selling has sent the stockmarket down to levels not seen in almost 30 years.
In May and June, a wave of selling swept through the Asian financial markets, and Thailand was especially hard hit.
As a result, he said, he did not expect the current wave of selling to be sustained.
But if the shares plunge, the resulting margin call may lead to an especially brutal wave of selling.
In stock markets, investors unleashed a wave of selling across the board in Europe and the United States.
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