The New York Stock Exchange (NYSE) recently highlighted issues with the stock price of Berkshire Hathaway Class A (BRK.A), an investment company owned by Warren Buffett. The stock price plummeted by over 99.9% from over $620,000 to around $185, prompting NYSE to temporarily halt trading of BRK.A shares.
NYSE attributed the problem to a technical issue stemming from data connectivity with the Consolidated Tape Association (CTA), a company that provides real-time stock price data. CTA explained that a new software update led to errors in setting the stock’s high-low price limits, prompting a rollback to the previous software version.
Approximately 40 companies, including Barrick Gold, Nuscale Power, Chipotle, and Bank of Montreal, were affected by this price error, in addition to Berkshire’s stock.
NYSE announced that all buy and sell orders during the price fluctuation issue would be cancelled. Berkshire’s stock had 4,000 shares traded during this period.
Source: CNBC
TLDR: NYSE faced technical issues with Berkshire Hathaway’s stock price, leading to a drastic drop and temporary trading halt. CTA’s software update caused errors in price limits, affecting multiple companies’ stocks. NYSE cancelled all affected orders and rolled back to previous software version.
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