Berkshire Having a Summer Sale

The price of Warren Buffet’s Berkshire Hathaway A-shares suffered an alarming 99.9% drop in price when the stock market opened on Monday.

Don’t worry, Warren Buffett didn’t lose his fastball. This was just part of a technical glitch that showed incorrect stock prices for several stocks, including Berkshire Hathaway.

The CTA said that the issue might have been caused by a new software release and that the organization will revert back to their prior software program. The NYSE said they resolved the issue by 11:45 AM ET on Monday. 

Overall, 40 stocks were affected, but none as glaring as Berkshire Hathaway. 

Prior to trading being halted, there were less than 4,000 recorded trades Monday for Berkshire-Hathaway’s A-class shares. 

Unfortunately for those who were quick enough to scoop up the shares at a massive $620,000 discount, it truly was too good to be true. The NYSE announced, within 24 hours, that those deals will be canceled.