CDW Corp briefly plunges 96% on possible ticker mix up with CaliberCos

CDW

18/05/2023 11:19

** Shares of IT firm CDW Corp  CDW.O  briefly plunged as
much as 96% to $7 premarket 
    ** The stock has since pared most of its losses and was last
down 0.5% at $172.44
    ** It is an "erroneous order for sure. My bet is that trades
below $150 will get busted by the exchange," a Berlin-based
trader said
    ** Twitter chatter suggested some had confused CDW Corp's
ticker with that of asset manager CaliberCos  CWD.O , which made
its Nasdaq debut on Wednesday and closed at $6, about 50% higher
from its IPO price
    ** CDW Corp was valued at $23.4 bln up to Weds close, while
CaliberCos notched a market cap of $123.7 mln

 (Reporting by Medha Singh and Sruthi Shankar)
 ((medha.singh@thomsonreuters.com))