Data Glitch Briefly Pegs Incorrect Prices on Multiple Nasdaq Stocks

Apple, Amazon and Microsoft Stock Erroneously Shown at $123.47 a Share

By InvestorPlace Staff

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Incorrect pricing data was briefly posted worldwide early Tuesday morning in Asia, showing a trades at $123.47 for Nasdaq-listed stocks, including Amazon.com, Inc. (NASDAQ:AMZN), Apple Inc. (NASDAQ:AAPL), and Microsoft Corporation (NASDAQ:MSFT).

Data Glitch Briefly Pegs Incorrect Prices on Multiple Nasdaq Stocks
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According to news reports, the faulty stock price data showed up on several sites, including Yahoo Finance, Google Finance, along with Bloomberg terminals between 6 a.m. and 7 a.m. Hong Kong time. U.S. markets had closed early on Monday ahead of the Fourth of July holiday.

Nasdaq said the problem was caused by faulty test data being improperly disseminated by third-party vendors. As a result of the glitch, several stocks briefly showed a price of $123.47, which would have reflected a 14% fall in AAPL stock, an 87% drop in AMZN stock, and a 79% jump for MSFT stock. Joe Christinat, a Nasdaq spokesman, said no actual trades were affected by the glitch.

U.S. stock markets were open for half a day on Monday and are closed Tuesday for Independence Day. Aftermarket trading typically continues for four hours. However, the early close on Monday may have played a role in dissemination of test data, which is sent out after every trading day, the Nasdaq spokesman said, according to the Wall Street Journal.


Article printed from InvestorPlace Media, https://investorplace.com/2017/07/data-glitch-briefly-pegs-incorrect-prices-on-multiple-nasdaq-stocks/.

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