NYSE Cancels Trades After 99% Discount Glitch on Berkshire Hathaway
TL;DR
A technical glitch at the NYSE caused Berkshire Hathaway's stock to temporarily drop by over 99%, allowing some traders to buy shares at a fraction of their value. The NYSE later voided these trades, attributing the issue to a software update from the Consolidated Tape Association. Only Berkshire's Class A shares were affected, and the stock saw a legitimate 3% decline the following day due to sector weaknesses.
Topics:businessstock-market#berkshire-hathaway#nyse#stock-market#stock-trading#technical-glitch#warren-buffett
- Too Good To Be True: NYSE Cancels Trades On Berkshire Hathaway Stock Purchased During 99% Discount Glitch Benzinga
- Traders who scooped up Warren Buffett's Berkshire Hathaway shares at a massive $620,000 discount during glitch will have their deals canceled by the NYSE Yahoo Finance
- New York Stock Exchange says bizarre glitch that showed Berkshire Hathaway down 99.97% has been resolved CNN
- NYSE technical error sends stocks tumbling The Register
- Technical issue causes Berkshire Hathaway shares to appear to be down nearly 100% Omaha World-Herald
Want the full story? Read the original reporting
Read on Benzinga