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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.