June 25, 2024

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No, you can’t buy Berkshire stock at a 99% discount.

No, you can’t buy Berkshire stock at a 99% discount.

A man looks at a screen at the New York Stock Exchange
Michael Nagel/Xinhua via Getty Images

  • The New York Stock Exchange will cancel trading after a glitch caused 40 stocks, including Berkshire Hathaway, to halt.
  • This glitch caused Berkshire Hathaway to appear to be trading at a 99% discount.
  • The technical issue lasted for two hours and was linked to the Consolidated Tape Association.

New York Stock Exchange It said it would cancel trades made after the glitch Trading halt on 40 shares Monday morning – including Berkshire Hathaway, which appears to be trading at a 99% discount.

Warren Buffett’s Class A shares The company appears to be trading at $185.10 per share before the trading halt began. Trading can be temporarily halted before a news event, due to regulatory concerns, or if the stock moves outside certain price ranges, which happened to Berkshire Hathaway.

A small number of trades were executed at the discounted price in the minute before the halt began, according to LSEG data. The New York Stock Exchange said All Berkshire Hathaway trades valued at $603,718.30 or less will be cancelled.

The group’s Class A shares closed at $627,400 on Friday. The stock reopened at $648,000 at 11:36 a.m.M., It closed at $631,110 on Monday.

The technical glitch, which came from Consolidated Tape Association real-time stock quotes, lasted about two hours and was fixed by approximately 11:45 a.m.

The New York Stock Exchange allows traders to do this Mark trades as “clearly false.” And claim compensation if necessary. Last January, A A glitch in the New York Stock Exchange This led to significant price fluctuations for more than 250 companies, and was traced back to an employee who left the backup system running.

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The CTA oversees the dissemination of real-time price information on many exchanges. It said Monday’s glitch may have stemmed from “an issue with the Limit Up/Limit Down price ranges that may be related to a new software release.”

The New York Stock Exchange issued cancellation notices similar to At least 12 other companies, Such as the fast-casual chain Chipotle, exchange-traded funds, Included PIMCO Bond ETF.