This Is What Happens When A Buggy Algorithm Goes Crazy On A Stock• Business Insider
But sometimes the "bots," as they are affectionately called, get buggy. That's what Nanex, a market research firm, has noticed is happening today.
An algorithm placing orders in WPCS International Incorporated (WPCS), a communications infrastructure company, has sent/canceled 1.4 million orders since 11am when it turned on.
That's a rate of 200 orders per second.
That means that of all 7771 in the United States' National Market System, WPCS has had the 6th most quotes of the day and is making up 0.62% of all quote volume.