Interactive Brokers (IBKR) Experience $48M Loss on NYSE Glitch

Interactive Brokers (IBKR) encountered a critical issue on Jun 3 when Berkshire Hathaway Class A shares (BRK A) experienced a sharp decline from $622,000 to$185 because of a technical fault in the NYSE. The huge price plunge and technical problem led the NYSE to suspend the trading of BRK A stock quickly.As the news of BRK A's unusual price drop swiftly spread on social networks, many clients of IBKR and its subsidiaries tried to capitalize on this ‘opportunity.’ They submitted buy orders during the tradin ...