Nasdaq Cancels Odd Pre-Market Trades in 9 Stocks
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Citigroup Headquarters in Long Island City, New York.
Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades that resulted in wild price swings in a number of stocks including Citigroup and Hewlett-Packard, the exchange said in a statement.
Nasdaq said it is cancelling trades in nine stocks that saw trades take place at a price 10 percent or more away from the previous day's closing.
"We have no comment further than our ruling," said Robert Madden, Nasdaq OMX spokesman.
Trades executed in the last minute of premarket trading on a third-party platform show wild swings in shares. Hewlett-Packard, for instance, closed on Wednesday at $14.53 a share. It saw more than 50 trades at $3.06 a piece, according to Thomson Reuters data.
Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades that resulted in wild price swings in a number of stocks including Citigroup and Hewlett-Packard, the exchange said in a statement.