Loss in terms of money or efforts. Could be recent or ancient.
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The program was called “Power Peg” for those googling for it. It was a test program not intended to be used on the live market.
The Power Peg program was designed to buy a stock at its ask price, and then immediately sell it again at the bid price, losing the value of the spread.
The Worst Computer Bugs in History: Losing $460m in 45 minutes
