Breaking: NYSE Fixes Glitch Showing False 99% Drop in Berkshire Stock

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As a seasoned crypto investor with a few bear market cycles under my belt, I’ve learned to keep a cool head during market volatility. However, this morning’s news from the New York Stock Exchange (NYSE) shook even my calm demeanor.

As a crypto investor, I’ve noticed some normal trading activities resume on the New York Stock Exchange (NYSE) around mid-morning Monday, following a temporary glitch that resulted in significant price swings for particular stocks.

As a crypto investor, I’d like to clarify that there was a misleading report suggesting that Berkshire Hathaway had lost 100% of its value in the market. However, this information was incorrect, and I have confirmed through the NYSE that the issue has been resolved.

NYSE Fixes Tech Issue After Berkshire Stock Dips

On Monday morning, the New York Stock Exchange encountered a technical glitch resulting in substantial price disparities for various stocks around 11 a.m. ET. By this time, the NYSE had pinpointed the source of the issue, which affected their primary electronic stock pricing system. Trading for the significantly impacted stocks was either back in progress or being restarted by then.

NYSE Equities Is Currently Investigating A Reported Technical Issue

— LiveSquawk (@LiveSquawk) June 3, 2024

I analyzed the situation and identified that the root cause lay with the “limit up, limit down” mechanisms meant to regulate market fluctuations. Around fifty stocks experienced this issue, resulting in momentary trading halts. Notably, Berkshire Hathaway’s Class A shares were erroneously displayed as plummeting 99% from approximately $620,000 to $185.10. Trading for these shares was corrected by around 11:35 a.m. ET.

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2024-06-03 20:46