In short. The New York Stock Exchange is investigating a technical problem which caused the halting of dozens of stocks this Monday, as we learn from our colleagues at CNN. Among the stocks affected is Berkshire Hathaway, the company of legendary investor Warren Buffett, which saw its Class A stock fall 99.97%.
According to the NYSE, this technical problem is linked to a mechanism designed to prevent wild swings in stock prices. Ironically, this same mechanism appears to have triggered the chaos, causing several stocks, including Chipotle and Berkshire Hathaway, to halt trading.
Sales at Warren Buffett
Berkshire’s Class A stock, known for its high pricewas temporarily listed at only $185.10a figure that would imply an almost total annihilation of its value.
For now, the NYSE is still trying to figure out what went wrong, while the market as a whole appears largely untouched by this anomaly. Joe Saluzzi, co-founder of Themis Trading and expert in market structure, told CNN:
“ Berkshire, Chipotle and a few others were suspended for no apparent reason. Something weird is happening. »
The issue has reportedly since been resolved and the affected actions have since been reopened.
The birth of a Warren Buffett prophecy?
It remains certain that this juicy misadventure full of mystery will cause a little ink to flow. This incident found its sarcastic echo in Warren Buffett’s criticisms of the volatility and risks of cryptocurrencies.
” I do not know if [Bitcoin] will go up or down next year, or in five or ten years. (…) If you told me that you own all the bitcoins in the world and you offered them to me for 25 dollars, I would not take them, because what would I do with them? I should sell it to you somehow. It won’t do any good. »
Warren Buffett for Forbes
The billionaire is, in fact, known to be an enemy of Bitcoin. Let’s be honest, he likes regularly insult him. Although this situation has nothing to do with crypto, the crypto community is happy to see the sprinkler somehow watered.
Rest assured ! Bitcoin won’t be the last sector the Berkshire Hathaway founder enters will not investbecause he also stated that he ” did not understand “ neither artificial intelligence (AI) and ChatGPT. However, it seems that the financial gods have decided today to come and greet him.
