A week or two ago I posted about the major screw up CNBC made involving Petrobras.  Ken Hebner was on talking up [[PBR]] also known as Petrobras for short.  CNBC screwed up and posted the chart and ticker for Petrobras Energia [[PZE]].  This caused a massive surge of buy orders for PZE.  Since PZE only averages 300k trades a day, the 3million excess trades pushed the stock up huge.  Fast forward a week and PZE gets downgraded after the huge run up.  CNBC acknowledged it error, but that doesn’t keep them from mentioning low volume traded stocks on air.

Today, another stock I have been following was mention on CNBC, [[COIN]].  Look at the chart and see if you can tell the exact moment when the stock was mentioned.  The most amazing thing is that it wasn’t even a recommendation.  The guy was just talking about Ag stocks and mentioned it.  Next thing you know- boom, to the moon Alice.

My favorite part of the story is the fact that during the race to get buy orders in, there was a buy order that was posted on Ameritrade at $100,000.  My guess is that the person wanted to buy 100,000 shares and just put it in the wrong place.  That being said, someone that stupid should not have access to $1million.

UPDATE: Today’s high, as posted by Ameritrade, has been changed from $100,000 to 14.xx.