[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.
Was this only on Google Finance or platform wide? I know the previous incident you were talking about was a NASDAQ error as you said, but this could be a Google error too. Google finance can give incorrect data at times, and well I guess that’s why it’s still in Google Labs. Yahoo finance is a better alternative usually, but I still see myself going back to Google Finance a lot due to the ease of use. I should stop now. This comment is turning into a blog post.
It was a wide error. I checked Yahoo Finance last night too.