‘Technical Issue’ at NYSE Briefly Sends High-Flying Berkshire Hathaway Stock to Near Zero
Impacted stocks have since reopened or are in the process of reopening, says the NYSE.
A technical glitch at the New York Stock Exchange led Class A shares of Berkshire Hathaway, among other securities, to temporarily drop nearly 100 percent Monday morning.
Trading was halted for Class A Berkshire Hathaway stock, while trading in B-class shares of the company continued without interruption. Barrick Gold and Nuscale Power were also halted, both of which appeared to be down 99 percent at one point.
Shares of Grupo Aeroportuario Del Sureste were down 66 percent. Stock in Chipotle was also impacted by the technical error, albeit down just 1.2 percent.
The complete list of stocks affected by the glitch are listed on the NYSE after trading paused midmorning. At 10:11 am EST, the NYSE said it was investigating technical issues related to mechanisms to halt stocks for excessive volatility.
Class A shares in Berkshire Hathaway are one of the priciest stocks on Wall Street with a 52 week high of $647,039. Warren Buffet, the chairman and CEO of the company, has never issued a stock split in order to attract long-term investors. The price stood at $622,000 prior to this morning’s error, which saw the stock listed for $185 a share at one point.
This is not the first time the exchange or other platforms have malfunctioned. In January 2023, some stocks on the NYSE opened at abnormally high and low prices due to technical issues. Some stock orders were canceled last December in a Nasdaq system error, and CME Group index data feeds were frozen temporarily just last week.
At 11:08 am the NYSE released another statement, “Impacted stocks have since reopened (or are in the process of reopening) and the price bands issue has been resolved.”