A stock market glitch briefly showed Berkshire Hathaway stock down 99% after NYSE technical issue
- Technical issues at the New York Stock Exchange displayed incorrect stock prices on Monday.
- Shares of Berkshire Hathaway Class A shares were down 99.97% for about two hours.
A technical glitch at the New York Stock Exchange led to some stocks displaying incorrect prices on Monday.
The technical glitch lasted for about two hours and led to trading halts for 40 impacted stocks. The technical error, which originated from the Consolidated Tape Association's real-time stock quotes, was fixed by about 11:45 am.
"After the market opened on the morning of June 3, 2024, a technical issue involving industry-wide price bands published by the Consolidated Trade Association's Securities Information Processor triggered 'limit-up/limit down' trading halts on up to 40 symbols listed on NYSE Group exchanges. Shortly before noon, the issue was resolved and trading in the impacted stocks resumed. The NYSE is reviewing potentially impacted trades," A NYSE spokesperson told Business Insider.
During the glitch, Class A shares of Berkshire Hathaway were down 99.97% to just $185.10 per share. The incorrect share price data showed the stock losing more than $627,000 in value on trading volume of just over 3,000 shares.
Class A shares of Berkshire Hathaway closed at $627,400 on Friday. The stock reopened at $648,000 at 11:36 am.
Shares of Barrick Gold and NuScale Power Corporation were also briefly down 99% because of the glitch, while shares of Grupo Aeroportuario Del Sureste were down 66%. Chipotle stock was also impacted, though it traded down just 1.2% before its trading was halted.
The New York Stock Exchange is owned by Intercontinental Exchange.