After trading up more than 3% earlier today, shares of Apple (NASDAQ:AAPL) have seen a sudden and sharp negative reversal. Negative reversals are a pretty foreign event for shareholders of AAPL. The last time the stock traded up 3% intraday and then finished down on the day was back in December 2008.
Below is a chart of AAPL going back to 2005. In the chart, each of the red dots indicates days where AAPL traded up more than 3% and then finished down on the day. There have only been ten of these occurrences over the last seven years, and all of them came during the Financial Crisis, when big intraday swings in the market and individual stocks were the norm.