Reported 6 months ago
The New York Stock Exchange announced it would cancel trades after a glitch caused trading halts for 40 stocks, including Berkshire Hathaway, which appeared to trade at a 99% discount. The technical issue, traced to the Consolidated Tape Association's software, lasted for two hours before being resolved. NYSE stated that all trades for Berkshire Hathaway below $603,718.30 would be canceled, with the stock eventually reopening at a corrected price and closing above $631,000. Traders can flag erroneous trades for compensation, and the CTA mentioned the glitch might be linked to price band limits from a software update. Similar cancellation notices were issued for other firms affected by the glitch.
Source: YAHOO