Wall Street encounters a technical problem, causing Berkshire's shares to briefly plummet

The New York Stock Exchange (NYSE) experienced a technical glitch Monday morning that briefly caused Berkshire Hathaway's stock price to drop nearly 100 percent and halted trading in dozens of stocks.

Berkshire Hathaway's Class A stock fell 99.97 percent shortly before 10 a.m., falling to $185.10, after closing at $627,400 Friday afternoon.

Trading in the company's shares, along with 39 others, was halted due to a technical issue with the publication of “industry-wide price ranges,” an NYSE spokesperson said in a statement.

“Shortly before noon, the issue was resolved and trading in the affected stocks resumed,” the spokesperson said, adding: “The NYSE is investigating potentially affected trades.”

Shares of Berkshire shot above $700,000 after trading resumed before falling back to around $626,000 on Monday afternoon.

Other stocks halted due to the technical issue included AMC Entertainment Holdings, Chipotle Mexican Grill and GameStop Corp, the NYSE said.

Shares of GameStop soared Monday morning after an account linked to meme stock trader Keith Gill, also known as “Roaring Kitty,” posted a screenshot on Reddit suggesting he had purchased a nearly $116 million stake in the video game retailer.

Shares in GameStop rose more than 30 percent Monday afternoon, while fellow meme stock AMC rose 15 percent.

Related Posts

  • Business
  • June 19, 2024
  • 2 views
  • 3 minutes Read
What is open and closed on Juneteenth? See which shops and restaurants are open today.

Americans mark the 19th of june third consecutive year of Juneteenth as a federally recognized holiday. As with other federal holidays, some services and stores may be closed today to…

  • Business
  • June 19, 2024
  • 3 views
  • 3 minutes Read
A new Boeing whistleblower claims defective aircraft parts may have been used in jetliners

A new whistleblower report claims defective aircraft parts may have been used in Boeing jets. It comes as the company suffered a series of safety and quality issues, including a…

Leave a Reply

Your email address will not be published. Required fields are marked *

You Missed

What is open and closed on Juneteenth? See which shops and restaurants are open today.

  • June 19, 2024
What is open and closed on Juneteenth?  See which shops and restaurants are open today.

shares, news and UK inflation data

  • June 19, 2024
shares, news and UK inflation data

10 ways BPD services can effectively manage symptoms and improve quality of life

  • June 19, 2024
10 ways BPD services can effectively manage symptoms and improve quality of life

How grounding came into existence and its modern applications

  • June 19, 2024
How grounding came into existence and its modern applications

As 'zombie deer disease' spreads, scientists search for answers

  • June 19, 2024
As 'zombie deer disease' spreads, scientists search for answers

Here are Wall Street's favorite picks in the S&P 500 for the second half of the year

  • June 19, 2024
Here are Wall Street's favorite picks in the S&P 500 for the second half of the year

Here is the complete list of hurricane names for the 2024 season

  • June 19, 2024
Here is the complete list of hurricane names for the 2024 season

How to protect yourself from a passive-aggressive partner

  • June 19, 2024
How to protect yourself from a passive-aggressive partner

Large wildfires create weather that promotes more fire

  • June 19, 2024
Large wildfires create weather that promotes more fire

Britain is investigating HPE's planned $14 billion takeover of Juniper Networks

  • June 19, 2024
Britain is investigating HPE's planned $14 billion takeover of Juniper Networks

Nvidia overnight rally lifts chip-related stocks in Asia on AI optimism

  • June 19, 2024
Nvidia overnight rally lifts chip-related stocks in Asia on AI optimism