NYSE to bust erroneous trades in CDW Corp shares

CDW

18/05/2023 13:11

May 18 (Reuters) - 
    NYSE Arca Equities said it was reviewing potentially
erroneous trading in the shares of IT solutions provider CDW
Corp  CDW.O  after they briefly plunged as much as 96% to $7 in
premarket trading on Thursday.
    The exchange operator, owned by Intercontinental Exchange
 ICE.N , 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  CWD.O .

 (Reporting by Medha Singh and Amruta Khandekar in Bengaluru;
Editing by Savio D'Souza)
 ((Medha.Singh@thomsonreuters.com; +91 80 6210 0592; Twitter: https://twitter.com/medhasinghs;))