Computer glitch lists several Nasdaq tech stocks at same price

Herbert Rhodes
July 5, 2017

The NASDAQ closed early on Monday for the 4 July holiday in the United States, a possible reason for the event.

A temporary data glitch briefly caused a number of Nasdaq-listed stocks, including Amazon, Apple and Microsoft, all to reset share prices to $123.47, causing confusion on trading desks.

Nasdaq said in a statement it was investigating the improper use of test data distributed by third parties. "Nasdaq is working with third party vendors to resolve the matter", the spokesman said.

Popular stock sites such as MacOS widgets, Google Finance and Yahoo Finance appeared to show stock prices for Apple, Google, Amazon and Microsoft all at 123.47 on Monday evening.

Google Finance and Yahoo Finance have since corrected their data on the stocks. This sudden change meant that their stock values fell dramatically, with Amazon's dropping by 87 percent and Alphabet's bottoming out by 86 percent.

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The glitch seems to have stemmed from test data sent out by the exchange - something it regularly pushes out, ironically, to help avoid glitches from occurring.

But the prices didn't really drop that much and trades went through at the proper prices and were correctly reflected on Nasdaq's website. Prices on Nasdaq's website were not affected. It appears that market trading was not affected, including pre-market trading.

The service had sent out test data that third parties such as Bloomberg published.

Nasdaq told Business Insider that the problem was caused by "certain third parties" incorrectly interpreting test data as a live feed.

Other reports by TheSundaySentinel

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