Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Google price corrected after trading snafu

Closing price adjusted after shares of the tech giant plummet due to erroneous trade. Change to final Nasdaq value to follow.

EMAIL  |   PRINT  |   SHARE  |   RSS
 
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
By Ben Rooney, CNNMoney.com staff writer

v2-cnnmoney-chart1.mkw.jpg

NEW YORK (CNNMoney.com) -- An accidental trade drove shares of Google Inc. to unbelievable lows Tuesday, causing the Nasdaq to correct the stock's closing price and adjust the index's final value.

The Internet search engine's stock appeared to have plummeted to a low of $25.80 at one point during the session. Shares opened at $396 and traded in a relatively tight range before dropping sharply near the close of trade.

"A market participant sent in a large number of orders and drove the price down at approximately [3:57 p.m. ET] which caused the bid-offer to be artificially low due to their mistake," according to a Nasdaq spokesman.

Google's (GOOG, Fortune 500) official closing price will be adjusted to $400.52 from the original, inaccurate settle price of $341.43. And the closing value of the Nasdaq 100 Index will be changed to 1594.63.

Nasdaq said that it will cancel trades made at or above $425.29 and at or below $400.52 that were executed on the Nasdaq between 3:57 pm ET and 4:02 pm ET.

The closing value of the Nasdaq Composite Index and several other related products will also be adjusted.

A spokesman for Google declined to comment and directed questions to the Nasdaq. To top of page

Features
They're hiring!These Fortune 100 employers have at least 350 openings each. What are they looking for in a new hire? More
If the Fortune 500 were a country...It would be the world's second-biggest economy. See how big companies' sales stack up against GDP over the past decade. More
Sponsored By:
More Galleries
8 cool things cars of the future will do The coolest features that tease the future of driving, from windshield projections to never needing to park again. More
The best gadget gifts for 2017 A holiday gift guide for anyone who wants to spread some techie joy. More
14 awesome toys for the holiday wish list From a DIY Star Wars Droid to a new Hatchimals toy and interactive Fingerlings, these products are worthy of a coveted spot on holiday wish lists. More
Sponsors