Engadget & The Onion Knock Share Prices

Last week, technology blog Engadget wrongly reported that the FCC had failed to grant Apple a license for its iPhone. When they published a report based on a hoax Apple employee email that was sent to the offices of Engagdet it caused a drop in Apple stock by $4 billion. When they found out their mistake, Engadget quickly apologized and stock rose again when Apple finally announced that the FCC had approved the phone. The lack of fact checking by blogs has stirred the journalist vs blogger debate yet again. Meanwhile, when PSFK was researching for a post on RadioShack the other day – we noticed on Google finance that a recent article by the sartirical Onion entitled ‘Even CEO Can’t Figure Out How RadioShack Still In Business‘ seemed to knock almost a cent off the share price of the electronic retailer. Is that supposed to happen? Click image to enlarge.