BREAKING: The Nasdaq Stock Market said it is investigating two minutes worth of transactions in Dendreon Corp. because they may have resulted from a brokerage error.
Transactions executed between 1:25 p.m. and 1:27 p.m. are under review, the New York-based exchange said in an e-mailed statement.
This also happened to Google when they reported. See Article Here. The last-minute pounding Wall Street gave Google’s shares was caused by “erroneous orders” that Nasdaq says it is canceling. Minutes before the closing bell Tuesday, a flurry of trades sent the Web search leader’s stock plummeting 10 percent to close at $341.43.
Nasdaq said in a statement that erroneous orders routed to Nasdaq from another market center were responsible for the high volume of trades.
The exchange raised Google’s closing price to $400.52 — a 5 percent gain for the day — and canceled all trades below that amount and above $425.29 between 3:57 p.m. and 4:02 p.m. EDT.
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