• 240
  • 64
  • 收藏

Nasdaq's computer system literally can't handle Berkshire Hathaway's sky-high stock price

CNN2021-05-08

New York (CNN Business)The world's most famous electronic stock market can't compete with the stubbornness of a 90-year-old billionaire.

For decades, Warren Buffett has refused to split Berkshire Hathaway's (BRKA) sky-high Class A shares, which traded hands Friday at a staggering $436,312.

Buffett's persistence finally caused a Y2K-like problem this week at Nasdaq.

Here's the issue: Nasdaq's 32-bit computer system can't handle prices above $429,496.7295. And Berkshire's Class A shares got to within 2% of that level on Monday.

Nasdaq (NDAQ), the world's first electronic exchange, couldn't risk sending out erroneous stock quotes. So it decided to pull the plug, at least until it completes a fix that will be able to handle Berkshire's lofty share price.

After consulting with regulators, Nasdaq temporarily suspended broadcasting prices for Berkshire's Class A shares on Tuesday. Just two days later, Berkshire's stock climbed for the first time above the maximum Nasdaq can handle.

While there didn't appear to be an impact to trading or pricing, the suspension left Nasdaq's brokerage and media clients relying on the data feed in the dark. They would have had to turn elsewhere to discover the price of the thinly traded shares. Nasdaq reached out to clients on April 16 to alert them of the looming issue and give them time to source the data elsewhere.

"Data integrity is of utmost importance at Nasdaq, we therefore instituted a temporary measure... to ensure that no incorrect data is disseminated prior to the completion of a technical upgrade," a Nasdaq spokesperson said in a statement.

Nasdaq said the real-time price information of Berkshire's Class A shares won't be available until May 17. No other stocks are likely to face similar issues before then because nothing trades for nearly as much as Berkshire's Class A shares.

Berkshire did not respond to a request for comment.

Although Buffett has repeatedly declined to split Berkshire's Class A shares, the company has introduced a more affordable Class B share that changes hands at just $289.

Companies often split their share prices to make them more accessible to retail investors. There is arguably less of a need to do that today though because many online brokerages now allow investors to buy fractions of a share.

免责声明:本文观点仅代表作者个人观点,不构成本平台的投资建议,本平台不对文章信息准确性、完整性和及时性做出任何保证,亦不对因使用或信赖文章信息引发的任何损失承担责任。

举报

评论64

  • Jaske123
    ·2021-05-10
    Wow
    回复
    举报
  • StockWatcher
    ·2021-05-10
    This remind me of Y2k bug 
    回复
    举报
  • thatsy
    ·2021-05-10
    Oracle of Omaha! 
    回复
    举报
  • T2C
    ·2021-05-10
    Truth
    回复
    举报
  • Dummy_Inv
    ·2021-05-10
    Wow... pls like and comment for coins 
    回复
    举报
    收起
    • Ivyn
      Wowiwoowowow
      2021-05-10
      回复
      举报
  • Jo2021
    ·2021-05-10
    This is quite funny hahahahah
    回复
    举报
    收起
    • Ivyn
      Wowiwowoow
      2021-05-10
      回复
      举报
  • Turtlebizkit
    ·2021-05-10
    [What] 
    回复
    举报
  • Dawang
    ·2021-05-10
    Only high net worth clients can smell Class A shares... [贱笑] [笑哭] 
    回复
    举报
  • greenhorse绿马
    ·2021-05-09
    The problem with legacy stock exchange system setup. It’s time to bite the bullet and upgrade also please include fixing the T+2 issue. In today age, trade should certainly be settle in the same day
    回复
    举报
    收起
    • RG3
      👍🏻
      2021-05-10
      回复
      举报
  • msmoo
    ·2021-05-09
    Wow. 
    回复
    举报
  • AppleMango
    ·2021-05-09
    Interesting.   I want to have 1 share as well
    回复
    举报
    收起
    • sheldonkwek
      X
      2021-05-10
      回复
      举报
    • Jo2021
      hahahha same. buy me one?
      2021-05-10
      回复
      举报
  • Zyyy
    ·2021-05-09
    Best go
    回复
    举报
    收起
    • goodjo
      1
      2021-05-09
      回复
      举报
  • Zyyy
    ·2021-05-09
    Best man
    回复
    举报
  • atf_nato
    ·2021-05-09
    [Speechless] 
    回复
    举报
  • Darylzhuo
    ·2021-05-09
    Please like and comment 
    回复
    举报
  • ym80
    ·2021-05-09
    [美金] 
    回复
    举报
    收起
    • Zyyy
      Best la
      2021-05-09
      回复
      举报
  • tungngie
    ·2021-05-09
    A happy upgrade. Just that i am not owning the brk.a. 
    回复
    举报
    收起
    • Yongi
      Brk.a is too expensive
      2021-05-10
      回复
      举报
  • Favian
    ·2021-05-09
    what the...
    回复
    举报
    收起
    • Favian
      amazing
      2021-05-09
      回复
      举报
    • Favian
      yah
      2021-05-09
      回复
      举报
  • dent
    ·2021-05-09
    Please like and comment
    回复
    举报
    收起
    • Jaslen
      Done. PleaSe comment back. Thanks
      2021-05-09
      回复
      举报
  • JayD
    ·2021-05-09
    Gotta get myself one!
    回复
    举报
    收起
    • Oohlalaala
      Ferrari right there
      2021-05-09
      回复
      举报
 
 
 
 

热议股票

 
 
 
 
 

7x24