The New York Stock Exchange and the Nasdaq said on Thursday they would cancel erroneous trades in the shares of IT solutions provider CDW Corp , which briefly plunged as much as 96% to $7 in premarket trading.
They would bust all trades in the stock between 04:00 a.m. ET and 04:22 a.m. ET, at or below $162.85, the main U.S. stock exchangesCDW Corp shares quickly recouped most of their losses and were last up 0.2% at $173.50. Some traders said the plunge was driven by investors mistaking the company's ticker for newly listed asset manager CaliberCos"You have a policy for the free market.
Scottsdale, Arizona-based CaliberCos jumped 44.8% to $8.65, a day after it jumped in its Nasdaq debut to notch a market value of $123.7 million.Similar cases of share reaction due to
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