InfoWorld Tech Watch | InfoWorld | Glitch sends Google stock tumbling | July 31, 2006 03:17 PM | By Mike Barton

Link: InfoWorld Tech Watch | InfoWorld | Glitch sends Google stock tumbling | July 31, 2006 03:17 PM | By Mike Barton.

Glitch sends Google stock tumbling Filed under: Search The Nasdaq is looking into an incident that sent Google's stock plummeting by $350 a share last week, The New York Sun reported Monday. The report said: The incident, which some Street pros contend is a blunder of major proportions by Nasdaq, surprisingly managed to escape the eyes of the financial press and was never reported even though the decline -- an astonishing drop of nearly $350 a share in a mere 10 minutes -- was the greatest ever in the history of the stock market in after-hours trading -- and undoubtedly in regular trading, as well. Here's what happened. On Thursday, trading in Google wrapped up the day at $387.12 a share at the usual closing time of 4 p.m. A minute after the close, Google announced its second-quarter results: better than expected earnings, but decelerating revenue growth from the prior quarter. At 4:02 p.m., in after-hours trading, Google's shares got creamed, initially tumbling to as low as $364, down more than $23 a share from its close, but then rallying back to $391, for a gain of nearly $14. At about the $391 price point, an order originated on Instinet-ATS (a Nasdaq company) that triggered trades between 4:10%2