Walmart Says Crypto Announcement Is Fake, , Causing Litecoin To Tumble.
Litecoin experienced a 20% gain when a fake press release sent out by GlobeNewswire said the retailer would be utilizing the cryptocurrency.
It claimed Walmart would accept litecoin as payment from shoppers.
13, Walmart spokesman Randy Hargrove shut down the claim, confirming that the press release was not authentic.
Following the announcement, litecoin traded over 3% down.
Walmart shares were hardly affected.
America's largest retailer is also investigating how the fake press release got posted.
It has since been removed from the GlobeNewswire website.
According to CNBC, it is unclear whether the Securities and Exchange Commission (SEC) will look into the matter