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 shares on sale for 90% off
If the price is too good to be true, it probably is. On July 20, in after-hours trading on the Nasdaq market, Google shares briefly plummeted from $388 to $38 due to a trader's error, the New York Sun reports. One unlucky shareholder nearly had a heart attack after he checked the stock price and saw he had a paper loss of nearly $70,000 on the Google shares he'd just bought.

But that shareholder's despair was short-lived, as was the glee of those who bought Google at $38 during the brief 90% off sale. After an hour, Nasdaq declared the trades null and void. While some Wall Streeters criticized the market for taking that long to correct a seemingly obvious error, a Nasdaq spokesperson told the Sun that the delay was normal given the need to investigate the pricing glitch.
Posted by Owen Thomas 10:39 AM 1 Comments comment | Add a Comment

Nasdaq shouldn't have broken those trades. I saw it trade at $38. Some trader put in a sell GOOG at $38 on Island exchange. It was his mistake so he should have to pay for it.
Posted By Tony, Los Angeles, CA : 3:36 PM  

To send a letter to the editor about The Browser, click hereTop of page

Got a news tip? Send it to The Browser