GOOG’s Mystery Stock Plunge
The stock market is bad, but Google trading for as low as 1 cent today and closing initially at $320 (after opening at $488) has the NASDAQ checking out some odd trades and resetting the closing price to $400.
Reuters reports that “erroneous orders” may have caused the drop and that these orders might not be reversible, though apparently a small number of trades done within a five minute window at the end of the day wouldn’t be counted.
Reports are still coming in. For more, see related stories on Techmeme.
(Some images used under license from Shutterstock.com.)
Discover what's up in the business of marketing each Friday.