The day Berkshire Hathaway stocks (NYSE: BRK A) fell 99%

By:
on Jun 4, 2024
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  • Yesterday was one for the books at the New York Stock Exchange.
  • Thanks to a technical glitch, nearly 4000 traders managed to get Berkshire Hathaway stocks at 99% off.
  • The BRK-A stocks were shown as trading at $185 instead of the usual price, over $200 higher.

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Some realized the dream in an unexpected way yesterday – albeit only for a short while – when nearly 4000 people managed to secure Berkshire Hathaway shares for a song.

On the morning of Monday June 3rd in US trading hours, a technical glitch at the New York Stock Exchange caused approximately 40 to 60 stocks – including Berkshire Hathaway and Barrick Gold, among others – to display incorrect share prices.

The result? Berkshire Hathaway A-class shares (NYSE: BRK A) appeared to be trading down 99.97% at a stock price of a mere $185 roughly – rather than over $400 a share.

Although trading was halted for all NYSE stocks speedily, for the sake of limiting the volatility, this meant that a few managed to snag Berkshire Hathaway A-class stock – some of the most mythically valuable shares around – for not much more than Target stocks.  

And that’s just Berkshire Hathaway – at one point, it appeared that traders could get Barrick Gold stocks, from one of the world’s biggest mining companies, for under $1.

The victory was short-lived, of course. Around close of day for US trading, the NYSE announced that it would “bust” the “erroneous” trades posthaste.

Still, it’s perhaps one to tell the grandkids about.

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