The Investment Whisperer
  • Business
  • Politics
  • Investing
  • World
  • Business
  • Politics
  • Investing
  • World

The Investment Whisperer

Business

NYSE says technical issue fixed after Berkshire Hathaway wrongly falls 99%

by admin June 5, 2024
June 5, 2024
NYSE says technical issue fixed after Berkshire Hathaway wrongly falls 99%

Normal trading resumed late Monday morning after the New York Stock Exchange said a technical issue had led to large fluctuations in the prices displayed for certain stocks, including Warren Buffett’s Berkshire Hathaway.

A little after 11 a.m. ET, the NYSE said the issue involved the market’s main electronic stock price publisher, but that most stocks had since reopened or were in the process of reopening.

“Shortly before noon, the issue was resolved and trading in the impacted stocks resumed,” the exchange said in a statement. “The NYSE is reviewing potentially impacted trades.”

In a statement, the publisher, Consolidated Tape Association, said the issue may have been related to a software update that impacted price ‘bands’ or the electronic guardrails that limit volatility. It said it had resolved the issue by reverting operations to a data center where the previous software was still in use.

Some 50 stocks were affected, the website indicated, and trades in those companies were halted for about an hour.

The issue caused the NYSE to incorrectly show so-called Class A shares of Berkshire down 99% from their price of about $620,000 a share. Those shares resumed trading at normal levels around 11:35 a.m. ET.

Other shares affected included AMC Entertainment, Chipotle and GameStop.

Earlier, GameStop shares soared after trader Keith Gill, known as ‘Roaring Kitty’ on social media, apparently posted that he was increasing his bet on the stock.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Cucumbers shipped to 14 states recalled over Salmonella concerns
next post
Extreme heat set to drive home cooling costs to 10-year high, advocates warn

Related Posts

Byron Allen puts broadcast TV stations up for...

June 3, 2025

Polls say older voters want Social Security protections....

June 25, 2024

Tesla asks shareholders to vote again on Musk’s...

April 19, 2024

Fox One streaming service to launch ahead of...

August 7, 2025

Pink Stanley Quencher Starbucks cup release sparks mayhem...

January 6, 2024

Interest rates will likely start coming down this...

March 7, 2024

Trump transfers all his DJT shares to his...

December 21, 2024

Open seating no more? Southwest CEO says airline...

April 28, 2024

FTC drops Biden-era suit accusing Pepsi of price...

May 24, 2025

Walmart to pay $10 million to settle lawsuit...

June 24, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (1,516)
    • Investing (3,933)
    • Politics (5,246)
    • World (4,762)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheInvestmentWhisperer.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 TheInvestmentWhisperer.com | All Rights Reserved