Google's Out-of-This-World Stock Drop a Fluke
An odd thing happened before the stock market close yesterday. Google's stock was mostly flat all day, until 3:57 p.m., when it dropped severely. The shares, which opened Tuesday at $419.51, rose to a high of $423.51, then mysteriously plunged roughly 10 percent to $341.43 just minutes before the closing bell.
It turns out that the stock's drop was the result of erroneous trades sent from another exchange, according to a Nasdaq spokeswoman (via Dealbook).
According to Nasdaq OMX, which operates the Nasdaq stock market ... In a message posted on its Web site, Nasdaq said it was adjusting Google's closing share price to $400.52, or up 5.12 percent, and that it was canceling trades above $425.29 or below $400.52 made at or after 3:57 p.m.
Nasdaq said late Tuesday that it is "investigating potentially erroneous transactions," but didn't offer more details.
Tools: 
Share
|
| Comments (7) | Print
Reader Comments
Trading at Market Price
Many people trade stocks at market price. The price of a stock may be flat whole day and some one decides to sell or buy at market price. Suddenly, price swings like GOOG happens (that even may not be erroneous) and the order gets excecuted at rediculously differnet price than expected. So, one shouldn't trade at market price? Or brockerage houses should offer new means to trade at market price within some range?
hmm
this is all very upsetting
Add your thoughts
Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ.advertisement
