What do you think about the BRKA problems at NYSE?

Discussion in 'Investing' started by TomB16, Jun 5, 2024.

  1. TomB16

    TomB16 Well-Known Member

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    On Monday, some shares of BRK.A traded for $185.10. That is a considerable discount. Trading on the stock was halted and, later, the trades were reversed. NYSE called it a "technical glitch".

    Apparently, there is a system that blocks trades that are outside of a predetermined window. That system malfunctioned, among others. When trades went through that were too low, they were reversed.

    This raises several questions.

    - how is a stock purchase not a stock purchase?

    - is this a sign of corruption?

    - do people realize how many magnets and buttons are set up on this gaming table?

    - what do you think about this chain of events? Big deal? No big deal?


    https://www.marketwatch.com/livecov...will-likely-be-reversed--BcoDbXbdepprdG81fRp0
     
    #1 TomB16, Jun 5, 2024
    Last edited: Jun 5, 2024
  2. roadtonowhere08

    roadtonowhere08 Well-Known Member

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    Market manipulation by algorithms and news channels = good
    Making good on hilariously rare mistake = bad

    Got it.
     
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  3. TomB16

    TomB16 Well-Known Member

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    I'm surprised there aren't more opinions on this.

    This site has people scouring the exchanges for deals and mispricings. How would you like to find a great deal, buy it, and then have someone come along and reverse the sale because it's too good? What happened to "all sales final"?

    When is a sale not a sale? When it isn't in the best interest of the people who control it.
     
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  4. Smokie

    Smokie Well-Known Member

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    I seen the article come out about this when it happened. I missed the -99% sale.

    I got lucky one time when a sales associate was putting out sale tags in preparation for the upcoming holiday sales. They had inadvertently put a sale tag on a way more expensive vacuum cleaner vs the cheaper version next to it. After some discussion, they yielded and I got the sale on the expensive model. Of course they immediately changed the sale sign so someone else wouldn't get the deal.

    Sucks that it was just a vacuum though....:)
     
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