Berkshire Hathaway recently experienced a 99% discount on the New York Stock Exchange (NYSE) due to a technical glitch. The glitch, which was attributed to an issue with the Consolidated Tape Association’s software, lasted for about two hours and caused trading halts for 40 stocks, including Berkshire Hathaway. The stock closed at $631,110 on Monday after reopening at $648,000 from its previous Friday closing price of $627,400.
In addition to Berkshire Hathaway, at least 12 other firms and exchange-traded funds were also affected by the glitch. Traders who believe they were affected by the glitch can flag trades as “clearly erroneous” and seek compensation if necessary. This is not the first time the NYSE has experienced issues with glitches impacting trading. In January, more than 250 firms experienced dramatic price swings due to a glitch caused by a staff member who left a backup system running. The NYSE is actively working to identify and address any issues related to trading glitches to ensure fair and accurate trading practices.
