Google Inc. (NASDAQ:GOOG) stock dropped by $200 per share in the last couple of minutes of the market closing today. The Nasdaq Stock Market operator is currently investigating some of the transactions that might have happened as an error. “Participants should review their trading activity for potentially erroneous trades and request adjudication,” stated the surveillance arm of the Nasdaq OMX Group.
Bethany Sherman, a spokeswoman of the Nasdaq stated that they are investigating the trades that occurred in the last 3 minutes of the market closing (3:57-4PM E.S.T.). “We’ll take a look at the trades and make a judgment as to whether there were erroneous trades,” Sherman reported.
Clearly by looking at the highs and the lows, there is a data error with calculating the stock price. The low is $0.01 and the high is $498.36. The stock should be back above the $400 mark by the opening of the market again tomorrow. Those who made the trades at the abnormal prices will most likely be undone.