New York
CNN
—
The New York Stock Exchange is investigating a technical issue on Monday as Berkshire Hathaway and dozens of other stocks are halted.
NYSE said the technical issue is related to a mechanism designed to prevent stock prices from swinging wildly.
Dozens of stocks are paused because they traded outside those so-called limit up-limit down bands, according to NYSE’s website. That list includes Chipotle and Berkshire Hathaway, the holding company run by legendary investor Warren Buffett.
Berkshire’s Class A stock (BRK.A) is listed as trading at just $185.10, a price that would represent a loss of 99.97%, according to Refinitiv. Berkshire closed at $627,400 on Friday.
It’s not clear if the issues are related.
NYSE said it continues to investigate and did not provide additional comment to CNN.
“This is not a Nasdaq issue,” Nasdaq spokesperson Emily Pan told CNN.
Representatives for the Securities and Exchange Commission were not immediately available to comment.
Joe Saluzzi, co-founder of Themis Trading, told CNN that the technical issues don’t appear to be impacting the broader market.
“Berkshire, Chipotle and a few others were halted for no apparent reason. Something wacky is happening,” said Saluzzi, a market structure expert and the author of “Broken Markets.”
Besides Berkshire, most of the halted stocks and exchanged traded funds (ETFs) were only trading slightly higher or lower.
However, Barrick Gold (GOLD), a Canadian gold and copper producer, was displayed as trading at just 25 cents — down 98.5% on the day, according to Refinitiv.
NuScale Power (SMR), a maker of modular nuclear reactor technology that went public, is listed at just 13 cents, down 98.5% on the day.
This story has been updated with additional developments and context.
