Google Shares Plummet In Stock Fiasco - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Google Shares Plummet In Stock Fiasco

Something funky happened that sent Google's stock plummeting by $350 a share last week. Nasdaq officials are investigating.

The Nasdaq is looking into an incident that sent Google Inc.'s stock plummeting by $350 a share last week, a newspaper reported Monday.

The incident occurred Thursday after the stock market closed at 4 p.m. EST, The New York Sun reported. An unidentified person from a Nasdaq member firm apparently typed in an erroneous figure to commence a trade, causing Google shares to trade for as low as $38 between 4:10 p.m. and 4:12 p.m.

Google stock had finished the day of regular trading at $387.12 a share.

Google was not available for immediate comment. The incident occurred minutes after Google had reported second-quarter results that beat Wall Street earnings estimates.

One broker told the newspaper that a client who had bought $76,000 worth of Google stock earlier last week at $380 a share became hysterical when he learned of the stock plunge.

"The way he sounded, I thought for sure the man was going to have a heart attack," the broker said.

At 5:01 p.m., Nasdaq announced that it would cancel all after-hours trades in Google at or below $352.07 a share, the Sun said.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2020 State of DevOps Report
2020 State of DevOps Report
Download this report today to learn more about the key tools and technologies being utilized, and how organizations deal with the cultural and process changes that DevOps brings. The report also examines the barriers organizations face, as well as the rewards from DevOps including faster application delivery, higher quality products, and quicker recovery from errors in production.
News
Think Like a Chief Innovation Officer and Get Work Done
Joao-Pierre S. Ruth, Senior Writer,  10/13/2020
Slideshows
10 Trends Accelerating Edge Computing
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/8/2020
News
Northwestern Mutual CIO: Riding Out the Pandemic
Jessica Davis, Senior Editor, Enterprise Apps,  10/7/2020
Register for InformationWeek Newsletters
Video
Current Issue
[Special Report] Edge Computing: An IT Platform for the New Enterprise
Edge computing is poised to make a major splash within the next generation of corporate IT architectures. Here's what you need to know!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll