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AP Twitter account hacking leads many to re-examine strategy of basing investment activity on Tweets from the AP

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By Doug Powers  •  April 23, 2013 04:39 PM

**Written by Doug Powers

The Twitter feed of the Associated Press was apparently hacked earlier today. Screen shot via Twitchy:

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From the looks of it, a lot of market players base their investment strategies on AP Tweets.

From Marketwatch:

Stocks pushed higher Tuesday, after briefly tanking following a fake Associated Press tweet said there were explosions at the White House.

The AP said its Twitter account was hacked and stocks quickly bounced back. Strong earnings and a positive reading on the housing market overshadowed gloomy news about the pace of global growth.

I guess it could have been worse:

The AP will now try and figure out who hacked their account (the hacking was preceded by a phishing attack). They might also want to try to find out if any of their employees just coincidentally did some short selling during that brief time. Meanwhile, Janet Napolitano is expected to offer the AP employee in charge of their passwords a job working border security.

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Arrow above shows the time when investers started dumping stock after false information led them to believe Joe Biden might somehow end up in charge of the country

**Written by Doug Powers

Twitter @ThePowersThatBe

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