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Nasdaq Cancels Odd Pre-Market Trades in 9 Stocks

Citigroup Headquarters in Long Island City, New York.
Stephen Hilger | Bloomberg | Getty Images

Stock exchange operator Nasdaq OMX is cancelling a series of premarket trades thatresulted in wild price swings in a number of stocks includingCitigroup and Hewlett-Packard, the exchange saidin a statement.

Nasdaq said it is cancelling trades in nine stocks that sawtrades take place at a price 10 percent or more away from theprevious day's closing.

"We have no comment further than our ruling," said RobertMadden, Nasdaq OMX spokesman.

Trades executed in the last minute of premarket trading on athird-party platform show wild swings in shares.Hewlett-Packard, for instance, closed on Wednesday at $14.53 ashare. It saw more than 50 trades at $3.06 a piece, according toThomson Reuters data.