NYSE Arca Equities said it was reviewing potentially erroneous trading in the shares of IT solutions provider CDW Corp after they briefly plunged as much as 96 per cent to $7 in premarket trading on Thursday.
The exchange operator, owned by Intercontinental Exchange, said it would bust all trades in the stock between 04:00 a.m. ET and 04:22 a.m. ET, at or below $162.85. CDW Corp shares quickly recovered most of their losses and were last down 0.7 per cent at $172.09 in premarket trading. Some traders said the anomalous plunge was driven by investors mistaking the company's ticker for newly listed asset manager CaliberCos.
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