Marketwatch: Nasdaq cancels certain trades on Google shares
Wow - that stinks: Google closed at 320.50 today. Down almost 15% on a day when all other tech stocks were up. It dropped more than 60 points in the last few mins of the market.
SAN FRANCISCO (MarketWatch) — Nasdaq said Tuesday afternoon that it has cancelled certain trades made on shares of Google Inc. (GOOG 320.50, -60.50, -15.9%) minutes before the closing bell Tuesday. In a statement, the exchange said it will cancel all trades on the stock at or above $425.29 and at or below $400.52 that were executed between 3:57 and 4:02 Eastern. The exchange also said it will be adjusting the Nasdaq Official Closing Cross (NOCP) and all trades executed in the cross to $400.52. The decision came after data late in the trading session seemed to indicate that shares of Google - which were trading up about 8% for most of the session - fell between 10-16% in the final minutes before the closing bell. The statement from Nasdaq did not give a reason for the other trades.