Yahoo 93% OffYahoo 93% Off
Be glad your morning wasn't really this 'interesting'
June 13, 2007
10:50 AM -- Imagine the horror of waking up today to find Avanex Corp. (Nasdaq: AVNX) stock down 93 percent!
Just a Yahoo Inc. (Nasdaq: YHOO) typo, it turns out -- don't spew your coffee all over your keyboard. Yahoo! has the trading! price! right! ($1.55 at this writing) but somehow the field for yesterday's close says $22.29, which would be one heck of a reverse split.
As a control case, we've got our own stock ticker on Light Reading (you'll find it on the home page, underneath the Top 10 Private Companies list). It shows Avanex shares placidly up 1 cent (0.7%).
Other stocks bitten by the Yahoo bug are PMC-Sierra Inc. (Nasdaq: PMCS), erroneously listed as down 66 percent; and Foundry Networks Inc. (Nasdaq: FDRY), fictitiously down 24 percent. Both are doing OK in real life.
At least the Yahoo message boarders had some fun with the glitch. And there's a mention on there that ETrade had the same problem, so maybe it's not all Yahoo's fault.
— Craig! Matsumoto!, West Coast Editor, Light Reading
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