10/3/2008

Google Share Plunge To Be Erased By Nasdaq

Filed under: — Aviran Mordo @ 2:08 am

Google shares appeared to drop to 1 cent per share on Tuesday, an event that prompted Nasdaq officials to begin investigating “potentially erroneous” Google stock transactions, according to Reuters.

Google’s share price closed at $320.50 on Tuesday, down more than 15%. The company’s after-hours share price had risen to $415 at the time this article was filed, reflecting news of Nasdaq’s commitment to address the error with a share price adjustment.

In an e-mailed statement, a Nasdaq spokesman explained, “The canceled trades were triggered by erroneous orders that were routed to Nasdaq from another market center.”

 

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