Lou Dobbs: Have you seen a video recording of a building being imploded? Most of us have. It is quite an impressive thing to watch ... a large building reduced to rubble in a matter of seconds.
Well, take that image and apply to a stock, and you'll have an idea what happened to SCOX today on the NASDAQ.
In less than 60 seconds, SCOX went from it's all time high of $16.50 to just over $0.10. Yes, that's right, ten cents. Never has anyone ever seen that happen.
In addition, according to officials from NASDAQ, that is a new world's record for the fastest complete devaluation of any listed security anywhere.
"The clue train finally arrived," said one stunned trader, "it was bound to happen." "Kind of amazing to watch," commented another trader, "two hundred trades sold the price down almost 100 percent in one minute."
The SEC is investigating the circumstances surrounding this amazing sell off this evening.