The New York Stock Exchange (NYSE) faced a technical issue on Monday morning that caused Berkshire Hathaway’s share price to drop nearly 100 percent and triggered trading halts for dozens of stocks.
Berkshire Hathaway’s Class A shares fell 99.97 percent just before 10 a.m., falling to $185.10 after closing at $627,400 on Friday afternoon.
Trading in the company’s shares, along with 39 others, was halted due to a technical issue involving the publication of “industry-wide price ranges,” an NYSE spokesperson said in a statement.
“Shortly before noon, the issue was resolved and trading in the affected shares resumed,” the spokesperson said. “The NYSE is reviewing potentially impacted trades.”
Berkshire shares soared to more than $700,000 after trading resumed, before falling back to around $626,000 on Monday afternoon.
Other stocks halted amid the technical issue include AMC Entertainment Holdings, Chipotle Mexican Grill and GameStop Corp, according to the NYSE.
GameStop shares rose Monday morning after an account linked to meme stock trader Keith Gill, aka “Roaring Kitty,” posted a screenshot on Reddit suggesting he had purchased a stake worth nearly $. 116 million at the video game retailer.
GameStop shares were up more than 30 percent on Monday afternoon, while meme AMC shares were up 15 percent.
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