What happened

The New York Stock Exchange (NYSE) said it was investigating a technical issue that caused nearly a dozen stocks, including Chipotle and GameStop, to drop in volatility, the stock market’s main gauge, on Monday morning. Firms like Berkshire Hathaway and Bank of Montreal briefly traded at 99% off their opening prices on Monday, which is certainly linked to the disruption.

A technical issue with industry-wide price ranges published by CTA SIP resulted in some NYSE-listed stocks being halted this morning. The affected stocks were subsequently reopened (or in the process of reopening) and the price ranges issue was resolved,
– exchange reported on the status page.

Monday’s crash at the New York Stock Exchange came days after another major service outage at the U.S. stock market. Last Thursday, the S&P 500 index was not updated for an hour due to a technical glitch in real-time trading.

Shares of Gamestop and other companies dubbed “memes” for their entertainment value soared Monday morning as corporate players grappled with the outage. A new signal from blogger Roaring Kitty, who once urged everyone to buy shares of this company when hedge funds wanted to “bankrupt” the company, encouraged them to do so. He could be said to have saved it by creating massive hype and starting the so-called “war on Wall Street.” Roaring Kitty’s Keith Gill shared a screenshot showing that he owns a massive GameStop stock portfolio, currently worth more than $115.7 million; This portfolio represents a 103 percent increase in price and holds approximately $65.7 million worth of stock options that expire on June 21.

Disruptions to the work of exchange organizations are rare and very noticeable, but as in other fields that work with technology and the internet, it is not unheard of. This incident is a reminder that exchanges are built on complex algorithms that are not immune from technical glitches. However, when these problems occur, they can cause short-term panic and fear.