The prices of these stock on Nasdaq’s website weren’t however affected.
In a major glitch stemming from the market data that is largely run on automated markets, the prices of several big names on the Nasdaq listed stock exchange appeared on some websites to either have plummeted or spiked after the closing of the bell on Monday.
On Monday, at around 6:30 p.m., the stock prices of Microsoft Corp and Amazon Inc appeared to have lost more than half their respective values, while the stock prices of Apple Inc appeared to have suddenly gained more than double of their value. The share price of Ebay Inc and Alphabet Inc appeared to be priced at $123.47 on a few financial news websites.
A spokesman for Nasdaq confirmed that the actual prices of the stocks were however not affected by this glitch and no trades were completed at their ‘glitched’ prices.
In a statement, Nasdaq stated it was investigating the improper use of test data distributed by third parties.
Prices on Nasdaq’s website were not affected by the glitch.
Incidentally, U.S. stock exchanges, including Nasdaq closed early on Monday ahead of the U.S. Independence Day holiday on Tuesday.
Testing of stock exchange software is mandated by the U.S. SEC. Testing is done regularly to help prevent such glitches.
This is one of the reasons why this incident has gained significance.