NYSE technical issue, incorrectly showing Berkshire Hathaway down 99%
cnbc.com
cnbc.com
- BRK.A has an extremely high share price, in the hundreds of thousands of dollars for a single share, which causes issues
- NYSE has a very complicated trading system, because it tries to do things that no other market does, like having special privileges for manual floor traders, and because their markets have highly complex trading rules in general. I’ve written connectors to some of their Pillar protocols and they were… unusual
Not only BRKA was affected, there were more tickers that went down 99+%
https://www.investopedia.com/terms/e/erroneous-trade.asp
Update:
> In addition to the volatility halts, trades in Class A shares of Berkshire Hathaway Inc. appeared to go off at mistaken prices. About a dozen trades showed shares changed hands at $185.10 around 9:50 a.m., a discount of 99.97% to Friday’s closing price of $627,400. NuScale Power Corp. had a similar glitch, with trades that printed at about 99% below the prior price.
> “It’s very confusing that it’s happening in just a few shares,” said Jonathan Corpina, senior managing partner at Meridian Equity Partners, who typically works on the floor of the NYSE. “I would assume that those bad trades will be broken.”
https://finance.yahoo.com/news/volatility-halts-hit-numerous...