The Hennessy Advisors 4.875% baby bonds just fell $2.36/share on a 1,000 share ‘get me out trade’. Very thinly traded issues can get hammered–for no real reason.
The bid is now $21.00 with an ask of $22.50.
Whoops–just as I was typing this someone stepped in with a 200 share purchase at $21.78. So now off 38 cents instead of $2.36.