Google's stock plummets to $249 due to 'erroneous orders'

As if this week wasn't already stressful enough on Wall Street, the search giant's stock drops over 200 points, apparently due to errors on the exchange.

Google's stock dropped to $249 towards the end of trading on Tuesday due to "erroneous orders." Yahoo Finance

As if this week wasn't already stressful enough on Wall Street, at the end of Tuesday trading, Google's stock dropped over 200 points to $249, due to what the Nasdaq is calling "erroneous orders." The share price has since rebounded to $415 in after-hours trading. According to a comment from the Nasdaq to Reuters, "Transactions at or above $425.29 and at or below $400.52, that were executed between 3:57 p.m. and 4:02 p.m. EST, would be wiped out." That means that those who may have cashed in on this error are going to be out of luck.

Even though the situation is being rectified, this incident has certainly caused even more uneasiness in already shaken investors.

About the author

    Harrison Hoffman is a tech enthusiast and co-founder of LiveSide.net, a blog about Windows Live. The Web services report covers news, opinions, and analysis on Web-based software from Microsoft, Google, Yahoo, and countless other companies in this rapidly expanding space. Hoffman currently attends the University of Miami, where he studies business and computer science. Disclosure.

     

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