AAPL Trading Halts As Stock Drops 9 Percent – [UPDATED]

AAPL Trading Halts As Stock Drops 9 Percent – [UPDATED]


AAPL Dropping 9 Percent – (credit: WSJ)

Shortly after U.S trading opened today, MacRumors (via BusinessInsider) reports that AAPL took a sudden drop of 9 percent. Opening at $598.39 and crashing to $542.80, with AAPL experiencing its highest ever value-per-share in recent weeks the drop in share price was considered completely out of character for the company, and – (at the time) – it was unclear just why the stock had dropped to this level.

Bloomberg, however, later confirmed that the drop was due to technical issues at Bats Global Markets Inc. for firms with ticker symbols ranging between A and BF.

Bats sent a notice about 10 minutes before the Apple trade saying it was investigating “system issues” affecting companies with ticker symbols ranging between A and BF. Apple’s is AAPL.

Trading was briefly halted whilst the issues were fixed and trading has now resumed.

Phew!

[Update] – For those interested, CNBC reckons trading was halted between 10:57AM – 11:02AM EST(via 9to5Mac)