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  

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