NYSE Investigating Trades That Sent Anadarko Down 99%Michael P. Regan
The New York Stock Exchange said it is reviewing trades that sent shares of Anadarko Petroleum Corp. down as much as 99 percent to 1 cent in a series of transactions in the final second of trading.
The stock recovered and ended the session at $90.03, up 2.5 percent on the day.
The 26 trades occurred on the NYSE where the shares are listed, according to data compiled by Bloomberg. Rich Adamonis, a spokesman for NYSE Euronext, didn’t immediately respond to a phone call or e-mail seeking comment.