Glitch Hits Intel and Oracle Stock, After Hours Stock Price Showing About -50% [Updated]
[Updated 9:22 AM EST – Both companies appear to be fixed during the pre-market, Intel is at $15.76 and Oracle is at $19.45]
In September 2008, Google stock appeared to be trading at $0.01 temporarily when it should have been over $400. The glitch had to be investigated by Nasdaq Stock Market operators and it resulted from erroneous orders that were routed from another exchange. This time it looks like a similar case is happening with Intel Corporation (NASDAQ:INTC) and Oracle Corporation (NASDAQ:ORCL).
In the after hours stock price, Intel is reporting a $7.91 per share which is -49.52% from the closing price. Oracle is showing an after hours stock price of $9.63 per share which is -49.77% of the closing price. When this happened with Google last time any trades that took place at the $0.01 price were automatically canceled was not allowed to be appealed. As exchanges are becoming all-electronic they are susceptible to problems.
If anyone has any additional information, please let us know in the comments.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry