CNBC: Nasdaq is 'investigating erroneous transactions involving Google executed after 3:57 p.m.'

[Newsjock]

In a matter of seconds, stock in Google moved from $370 to $200, and the record on Yahoo Finance actually shows shares changing hands for $0.01. Then after hours, the stock moved back to $406.

"Bizarre, to say the least," CNBC says.

[Submariner]

1. If true, this is the kind of crook to draw and quarter

like in the medieval era.

[soulcore]

2. See, they don't need our money.

They will find new and inventive ways to game the system.

[Marie26]

5. Why don't they just sell some "credit default swaps"

betting on which banks will fail next? There's a trillion-dollar market waiting to be tapped!

[Changenow]

3. link? nt

[Newsjock]

4. No story yet, but here's the chart

http://ln-s.net/2HCU

(points to link below, which DU breaks)

http://finance.yahoo.com/echarts?s=GOOG#chart1:symbol=goog;range=1d;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

[Newsjock]

6. Here's a link now

http://www.247wallst.com/2008/09/possible-errone.html

NASDAQ MarketWatch is investigating potentially erroneous transactions involving the security Google Inc Cl - A "GOOG" executed after 15:57:00 today. MarketWatch will advise with details as soon as available. Participants should review their trading activity for potentially erroneous trades and request adjudication through the Clearly Erroneous process within the applicable timeframe for filing pursuant to the rule.

[kirby]

7. Speculation is that...

someone entered a sales of 2500 shares as 2.5 million shares. Who knows what that triggered.

[kirby]

8. Update:

Pursuant to Rule 11890(b) NASDAQ, on its own motion, has determined to cancel all trades in security Google Inc Cl - A "GOOG" at or above $425.29 and at or below $400.52 that were executed in NASDAQ between 15:57:00 and 16:02:00 ET. In addition, NASDAQ will be adjusting the NASDAQ Official Closing Cross (NOCP)and all trades executed in the cross to $400.52. This decision cannot be appealed. MarketWatch has coordinated this decision to break trades with other UTP Exchanges. NASDAQ will be canceling trades on the participant’s behalf.