- The New York Stock Exchange said a technical issue causing trading halts for multiple stocks has been resolved and impacted stocks have reopened or are in the process of reopening.
- The technical issue was related to industry-wide price bands that triggered halts in several stocks listed on the NYSE, including Chipotle and Berkshire Hathaway.
- Despite the resolution, some stocks like Berkshire Hathaway’s Class A shares were still showing significant losses of around 99.97% due to the glitch.
The New York Stock Exchange said Monday that a technical issue causing trading halts for multiple stocks has been resolved.
Background on the Issue
In an update, NYSE said that impacted stocks have since reopened or are in the process of reopening.
The exchange said there was a “technical issue” with industry-wide price bands that “triggered halts in a number of stocks” listed on NYSE.
NYSE noted that those price bands are published by the Consolidated Tape Association’s Security Information Processor (SIP).
Dozens of stocks were paused earlier in the day, an indication they traded outside those so-called limit up-limit down bands, according to NYSE’s website. That list includes Chipotle and Berkshire Hathaway, the holding company run by legendary investor Warren Buffett.
Ongoing Impact
The impact from the glitch does not appear to be over, however. Berkshire Hathaway’s Class A shares are still listed as trading down 99.97%. Earlier, Berkshire’s Class A stock (BRK.A) was listed as trading at just $185.10, a price that would represent a loss of 99.97%, according to Refinitiv. Berkshire closed at $627,400 on Friday.
“This is not a Nasdaq issue,” Nasdaq spokesperson Emily Pan told CNN.
Representatives for the Securities and Exchange Commission were not immediately available to comment.
Expert Analysis
Joe Saluzzi, co-founder of Themis Trading, told CNN that the technical issues don’t appear to be impacting the broader market.
“Berkshire, Chipotle and a few others were halted for no apparent reason. Something wacky is happening,” said Saluzzi, a market structure expert and the author of “Broken Markets.”
Besides Berkshire, most of the halted stocks and exchanged traded funds (ETFs) were only trading slightly higher or lower.
However, Barrick Gold (GOLD), a Canadian gold and copper producer, was displayed as trading at just 25 cents — down 98.5% on the day, according to Refinitiv.
NuScale Power (SMR), a maker of modular nuclear reactor technology that went public, is listed at just 13 cents, down 98.5% on the day.
Conclusion
This story has been updated with additional developments and context.
