From NY Post: The Nasdaq Stock Market yesterday canceled
some early trades in nine US stocks, including Goldman Sachs, Hewlett-Packard
and Sprint Nextel, when prices swung more than 10 percent away from Wednesday’s
close.
The errors took place before the regular opening of trading,
said the Nasdaq, which is led by Robert Greifeld.Goldman Sachs fell as much as
20 percent, to $94.01, and HP plunged 79 percent, to $3.06, before the trades
were broken. Sprint touched $2.82, a 50 percent decline, prior to the Nasdaq’s
decision to reverse those transactions.
“When I first saw they were canceling trades, my first
reaction was: here we go again,” Larry Peruzzi, senior equity trader at Cabrera
Capital Markets said. (For those experiencing
Senior Moments or with short memories: Nasdaq accidentally halted the start of
trading in Whitehorse Finance last week and flubbed Facebook’s initial public
offering in May.)
Read all about it at http://www.nypost.com/p/news/business/nasdaq_snafus_anew_ywn4Uu4ZLCVHCAICpsBW1H
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