On Wednesday morning, Knight Capital Group Inc. opened trading as a sturdy pillar of Wall Street. By Friday evening, the brokerage firm was clinging to a lifeline, and headed to the weekend in search of a long-term solution.
The firm, which lost $440 million due to a computer-trading glitch, was seeking a financial injection that could help it avoid a sale, breakup or bankruptcy, according to people close to the company.
Source: Wall Street Journal. Read full article. (link)