Berkshire Hathaway, Chipotle, More NYSE Stocks Hit With Trading Halts Triggered By Technical Issues (UPDATED)

Author: Piero Cingari | June 03, 2024 11:19am

Editor’s note: This story has been updated with additional details.

Multiple stocks on the New York Stock Exchange experienced sudden trading halts after 9:40 a.m. ET Monday due to technical issues.

The unexpected pauses in trading were triggered by a technical issue categorized under the “Limit Up/Limit Down” code, which is typically used to curb excessive volatility in a single stock.

The NYSE said it is investigating the reported technical issue. “Additional information will follow as soon as possible,” NYSE-owner Intercontinental Exchange Inc. (NYSE:ICE) stated.

Among the largest companies halted on Monday were Berkshire Hathaway Inc. (NYSE:BRK) at 9:50:52 a.m. ET and Chipotle Mexican Grill, Inc. (NYSE:CMG) at 9:44:58 a.m. ET.

Chipotle shares experienced a sudden and dramatic decline of 66%, plummeting from $3,097 to $1,047. The stock resumed trading at 10:21 a.m.

At 9:49 a.m., ET shares of Berkshire Hathaway faced an even more severe downturn, nearly being wiped out with a staggering 99.7% collapse from $622,375 to $185.10. As of this update, trading has not yet resumed for the company owned by Warren Buffett.

Monday’s technical malfunctions on the NYSE occur just one week after U.S. stock exchanges transitioned to a one-day settlement period.

Other Stocks Impacted

Other stocks affected by the sudden technical glitch on the New York Stock Exchange in Monday trading include:

• Abbott Laboratories (NYSE:ABT)
• Barrick Gold Corp. (NYSE:GOLD)
• Franco-Nevada Corporation (NYSE:FNV)
• Essex Property Trust, Inc (NYSE:ESS)
• NuScale Power Corporation (NYSE:SMR)
• Destiny Tech100 Inc. (NYSE:DXYZ)
• Ault Disruptive Technologies Corporation (NYSE:ADRT)
• Nouveau Monde Graphite Inc. (NYSE:NMG)
• Bowhead Specialty Holdings Inc. (NYSE:BOW)
• Banco Santander-Chile (NYSE:BSAC)
• Logistic Properties of the Americas (NYSE:LPA)
• Xperi Inc (NYSE:XPER)
• ICL Group Ltd. (NYSE:ICL)
• Telefonica, S.A. (NYSE:TEF)
• Trinity Industries, Inc. (NYSE:TRN)

The technical fallout also impacted trading on the following NYSE-Arca listed exchange traded funds:

• Direxion Daily Aerospace & Defense Bull 3X Shares (NYSE:DFEN)
• MAX S&P 500 4x Leveraged ETN (NYSE:UPRO)
• JPMorgan Core Plus Bond ETF (NYSE:JCPB)
• Global X MSCI Argentina ETF (NYSE:ARGT)
• Nationwide Nasdaq-100 Risk-Managed Income ETF (NYSE:NUSI)
• SPDR S&P Semiconductor ETF (NYSE:XSD)

Read now: Koss Corp, Tupperware, BlackBerry Shares Are Moving Monday: What’s Going On?

Photo via Shutterstock.

Posted In: ABT ADRT ARGT BOW BSAC CMG DFEN DXYZ ESS FNV GOLD ICE ICL JCPB LPA NMG NUSI SMR TEF TRN