NYSE Technical Issue Resolved After Berkshire Hathaway Pricing Error

Normal trading resumed late Monday morning after the New York Stock Exchange (NYSE) resolved a technical issue that caused significant fluctuations in the prices displayed for certain stocks, including Warren Buffett’s Berkshire Hathaway.

Issue Resolved by Late Morning

Around 11 a.m. ET, the NYSE announced that the issue, which had affected the main electronic stock price publisher, was being resolved. Most stocks had reopened or were in the process of reopening.

Technical Glitch Explained

Earlier, the NYSE explained that the problem involved “limit up, limit down bands,” which are mechanisms designed to limit market volatility. Approximately 50 stocks were impacted, leading to a temporary halt in trading for those companies.

Impact on Major Stocks

The glitch caused the NYSE to incorrectly display Class A shares of Berkshire Hathaway down by 99%, from around $620,000 a share. Trading for these shares resumed at normal levels around 11:35 a.m. ET. Other affected stocks included AMC Entertainment, Chipotle, and GameStop.

GameStop’s Unrelated Surge

Separately, GameStop shares saw a significant increase after trader Keith Gill, known as “Roaring Kitty” on social media, appeared to post about increasing his investment in the stock.

Official Response

An NYSE representative directed requests for further comments to their website.