Trades on Berkshire Hathaway Shares at Massive Discount of 620000 USD Canceled by NYSE All Details

Due to a glitch during a software update on Monday morning, the New York Stock Exchange (NYSE) had to halt trading on about 40 stocks. Due to this glitch, the stock prices of these companies, including Warren Buffett’s Berkshire Hathaway, fell by up to 99.9%. Before trading was halted, many traders bought Berkshire’s stock in this huge fall. After this, the New York Stock Exchange announced fixing all the problems in the system and the market started functioning normally. However, in the end, the NYSE dashed the hopes of those who had bought Berkshire Hathaway’s stock at a 99.9% fall.

On Tuesday at 9 p.m., the NYSE issued a statement saying it would freeze all of Berkshire Hathaway’s trades that occurred during the glitch. Dismissed The exchange termed these trades as ‘erroneous’, meaning they were ‘wrong’ trades. “It will “bust” all “erroneous” trades at or below $603,718.30 per share of Berkshire Hathaway stock,” the exchange wrote in its post.

As we reported, a data glitch on June 3 caused the Berkshire Group stock price to fall to $185 per share (roughly Rs. 15,000) after closing at $620,000 (roughly Rs. 5.18 crores) on its previous trading day. This is a decline of 99.97%. Trade Closed Many people took advantage of this dip and booked trades before it happened.

Although it is not clear how many people would have bought Class A stock during this one and a half hour glitch, the exchange later clarified that all the trades bought during that time were wrong. During this time, not only Berkshire, but all the companies affected by the glitch have been rejected for heavy losses. Not only this, an appeal cannot be made against this decision.

Fortune’s Report According to, the New York Stock Exchange reported that the problem was caused by a problem in the Consolidated Tape Association (CTA). The CTA provides realtime information about stock quotes and trades. It manages a part of the system called the Securities Information Processor (SIP), which combines all stock quotes and trades into one data stream. To fix this, the CTA reportedly switched back to a previous version of the software.