NYSE to bust erroneous CDW Corp trades as shares briefly dive 96%
Reuters
23-05-18 12:55
NYSE Arca Equities will investigate likely erroneous trades in IT provider CDW Corp after shares plunged as much as 96% to $7 in pre-market trading on 11 November, following investors mistaking the ticker for the newly listed CaliberCos (CWD.O). The exchange operator said it plans to bust all trades at or below $162.85 between 4am and 4.22am ET. Similar cases of share reaction due to mistaken identity have occurred previously, including in 2020, when investors confused China-based company Zoom Technologies’ stock for video conferencing app Zoom Video Communications.