Became necessary seven years after hoax.
So someone had a little fun with Twitter yesterday, throwing together a fake Bloomberg website with a fake Bloomberg story (cleverly “written” by a real Bloomberg reporter) that said Twitter had gotten a (fake) $31 billion buyout offer, which briefly created $1.3 billion in actual stock-market value. Pretty good little hoax. But let’s not get ahead of ourselves: It isn’t even in the conversation for greatest market hoax of all time. There wasn’t even (as far as we know) a genuinely crazy person involved, to say nothing of a genuinely crazy person dressed up in a crazy costume, probably by the Rothschilds. So, TWTR hoaxers, if you want to really make a splash, make your next trick a little more theatrical.
In 1987, investment advisor David Herrlinger called up Dow Jones News Service and informed them he represented an investment firm that was going to make a $6.8 billion offer for retailer Dayton Hudson, which had been the target of intense speculation. Herrlinger worked for a real firm, Capital Management, and the call was taken seriously. News of the bid send the stock surging. But Herrlinger, apparently, had suffered a nervous breakdown before making the call. He was fired from the firm, and taken to a hospital for examination….
One of the biggest market hoaxes of all time has to be what’s come to be called “the Great Stock Exchange Hoax of 1814.” In the middle of the Napoleonic Wars, on Feb. 21, 1814, a man showed up at an inn in Dover, England, claiming to be Colonel du Bourg, an aide to Lord Cathcart. He claimed Napoleon had been killed by Cassocks, which overjoyed the amazed locals….
Eventually blame fell on a gentlemen named Lord Cochrane, an officer in the Navy and a malcontent politician, who was tried (some argue railroaded) and imprisoned for the scam.
Stock-Market Hoaxes, From ‘Napoleon Is Dead’ to ‘Twitter for Sale’ [WSJ MoneyBeat blog]
Twitter Shares Hit by Takeover Hoax [WSJ]