(Reuters) – 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% 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% 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.
(Reporting by Medha Singh and Amruta Khandekar in Bengaluru; Editing by Savio D’Souza)
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