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.
