The New York Stock Exchange (NYSE) experienced technical issues on Monday morning, causing Berkshire Hathaway’s shares to fall nearly 100% at one point and halting trading for dozens of stocks.
Berkshire Hathaway’s Class A shares fell 99.97% from a closing price of $627,400 on Friday afternoon to $185.10 just before 10 a.m.
A New York Stock Exchange spokesman said in a statement that trading in the company’s shares, along with 39 other stocks, was halted due to a technical issue with the publication of “industry-wide price ranges.”
“The issue was resolved before noon and trading in the affected stocks resumed,” the spokesperson said. “The NYSE is reviewing transactions that may have been affected.”
Berkshire Hathaway shares soared to more than $700,000 after trading resumed, but settled around $626,000 by Monday afternoon.
Other stocks whose trading was halted due to technical issues included AMC Entertainment Holdings Inc., Chipotle Mexican Grill Inc. and GameStop Corp., according to the NYSE.
GameStop shares soared Monday morning after an account linked to meme stock trader Keith Gill (aka “Roaring Kitty”) posted screenshots on Reddit suggesting it had purchased roughly $116 million worth of shares in the video game retailer.
GameStop shares were up more than 30% as of Monday afternoon, while fellow meme stock AMC was up 15%.
Copyright 2024 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
