BRIEF: Typo sends Israel Corp. plunging 99 percent on TASE [Globes, Tel Aviv, Israel]
(Globes (Tel Aviv) Via Acquire Media NewsEdge) Aug. 25--The share price of Israel Corporation (TASE: ILCO) fell 99.88 percent for a few minutes today, activating the fluctuation breaker under Tel Aviv Stock Exchange (TASE) rules. At the moment, requests have been received to cancel erroneous transactions in the share.
Before the deals are canceled, the average daily transaction is down 84 percent.
Market sources believe that a typo by a TASE member, which wanted to sell shares in another company, placed a large sale order for Israel Corp. The mistake caused a 2.5 percent drop in the theoretical price of the Tel Aviv 25 Index.
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