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NYSE technical issue causes havoc

The New York Stock Exchange appears to be experiencing technical issues, with a number of major names currently seeing the quotation of their equity being mispriced. The technical issue so far is known to have impacted Berkshire Hathaway (NYSE: BRK.A), Barrick Gold (NYSE: GOLD), and Nuscale Power (NYSE: SMR).

The equities are being quoted as being down 98-99% currently, however when orders are placed at such pricing, investors are seeing an error on their terminals.

You can read more on the matter here.

What’s going on?

• NYSE Said To Be Investigating Technical Issue After Berkshire, Barrick Tumble Over 98% (theDeepDive)

• Hunter Biden's criminal trial begins in aftermath of Trump conviction (Reuters)

• Claudia Sheinbaum Makes History As Mexico’s First Female President (theDeepDive)

• Bank of Canada interest rate decision coming on Wednesday amid rate cut speculation (BNN)

• A 1st in Canada, $1.6B EV battery separator plant to open in Port Colborne, Ont., in 2027 (CBC)

• Major Political Scandal Erupts in Germany Over Russian Energy Schemes, Nord Stream 2 (theDeepDive)

• Blair Housing Guru Warns Labour on 1.5 Million Housebuilding Aim (Bloomberg)

• India’s Silver Imports In First Four Months Of 2024 Already Exceed 2023 Figures (theDeepDive)

• Factory activity shows signs of recovery in May (Reuters)

• Kazakh Banks Halt Money Transfers from Russia to China (theDeepDive)

• Turkish Exports to Israel Plunge 99% After Trade Halted Over War (Bloomberg)

• Lawsuit Alleges Elon Musk Used Inside Information for $7.5 Billion Tesla Stock Sale (theDeepDive)

What’s the latest?

• Air Canada Strike: The Air Line Pilots Association, representing over 5,000 Air Canada pilots, announced that they will seek federal conciliation to aid in stalled contract negotiations. Despite a year of discussions and nearly six months of voluntary mediation, the union and airline remain far from a deal. The union plans to file a notice of dispute with the federal Minister of Labour and request a conciliator.

• GameStop Run: GameStop Corp. shares soared after Keith Gill, known as DeepFuckingValue on Reddit, posted a $116 million position in the retailer, marking his first post in three years. The screenshot, which couldn't be verified, showed five million shares bought at $21.27 each and 120,000 call options expiring on June 21. This news boosted GameStop's shares by as much as 105% in premarket trading

• Budget Deficit: The Canadian federal government ended the 2023-24 fiscal year with a deficit of $50.9 billion, up from $41.3 billion in the previous fiscal year. Government revenues increased by $13.7 billion to $444.8 billion, driven by higher personal income tax, GST, and other non-tax revenues, despite lower corporate tax revenues.

• Mexico Elections: Claudia Sheinbaum will become Mexico's first female president, following her victory in the presidential election with 58.3 to 60.7 percent of the vote, the highest in Mexico's democratic history. Sheinbaum, a climate scientist and former mayor of Mexico City, succeeds her mentor Andres Manuel Lopez Obrador. The ruling coalition is also likely to secure a two-thirds majority in Congress, enabling constitutional reforms without opposition support.

• Ford Autonomy: Ford Motor Co. plans to introduce Level 3 autonomy technology by 2026, enabling drivers to take their eyes off the road and hands off the wheel under certain conditions, according to CEO Jim Farley. The technology is expected to operate at speeds up to 80 mph on highways, but only in clear weather. This development follows Ford's discontinuation of its Argo AI autonomous affiliate.

The future of copper and silver with Craig Parry

The stock market and stuff

• BREAKING: Berkshire Hathaway Class A Shares Suddenly Drop 99.97% (theDeepDive)

• Pharma giant GSK plunges 9% after U.S. court allows scientific testimony in Zantac lawsuits (CNBC)

• Live Nation Investigates Ticketmaster Hack That Allegedly Stole Data From 500 Million Customers (theDeepDive)

• Tesla stands by Musk pay after ISS urges shareholders to reject package (Reuters)

• Roaring Kitty Returns With $180 Million GameStop Investment, Sends Stock Price Up By 70% (theDeepDive)

In the juniors

• ATHA Energy Begins 10,000 Metre Drill Program In Thelon Basin (theDeepDive)

• Element 29 Resources To Refresh Board Of Directors With Industry Veterans (theDeepDive)

• Stallion Uranium Disposes Of Three Properties For $400,000 Cash, 2.5 Million Shares In Mustang Energy (theDeepDive)

FULL DISCLOSURE: ATHA Energy is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of ATHA Energy. The author has been compensated to cover ATHA Energy on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.