Data glitch sets tech company stock prices at $123.47

Photo by Spencer Platt/Getty Images

A stock market data error this evening set an undetermined number of companies listed on the Nasdaq exchange to a share price of $123.47, sending some tech companies’ stock prices crashing and others’ soaring. In a statement obtained by the Financial Times, Nasdaq said the culprit was “improper use of test data” that was picked up by third party financial data providers. The exchange said it was “working with third party vendors to resolve this matter.”

The issue was replicated across major financial websites, including Bloomberg, Google Finance, and Yahoo Finance, and it’s not known when it all started. But stock notifications for tech companies started pouring in at some point this evening, resulting in quite a few tweets on the matter:

For a company like Amazon, which enjoyed an opening price of $972.79 a share, the error has had a catastrophic effect on the appearance of its market cap. For other companies, like struggling Facebook game maker Zynga, the error is a bit of good news, if only for the fleeting perception of improbable success:

Update 10:55PM ET, 7/3: Included Nasdaq’s statement on the matter attributing the error to an “improper use of test data.” The headline of the article has also been updated to reflect this.

Comments

I wonder if any robo-traders responded to the new stock prices?

plot twist; it was no accident and was a plot to wreck some robo-traders

just goes to show you that manipulation by algorithms (computers) is basically the stock market in a nutshell.

that’s not at all what it shows though… if your television shows White noise, do you conclude that "that’s all that television is though, completely random lightpatterns"
This is a bug. If manipulatief by algorithms was basically the stock Market in a nutshell, then this would be the actual stock price. It’s not. The stock price right now is not what’s being displayed.

I’m assuming it wasn’t actually possible to buy the stocks at that price?

What would be Bill Gates networth at that MSFT stock valuation?

At least $1

That ice-chill recognition moment for some engineer when asked "Dave, you did switch to the dev environment when we were testing those manual pricing updates?"

We’ve all been there….

Of course I did Tom, what do you think I’m an idiot or somethin…. Shit!!

Note that like Republicans, most white stock brokers have Lego haircuts.

Creatives seemed to have different genes, we have fly away hair and wear patterned shirts.

What kind of racist bullshit is this?

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