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Google Shares Fall After ‘Fat-Finger’ Fiasco

Google's stock drop after 'fat-finger' fiasco

Google is one of the world’s largest and hi-tech companies, but that is no safe guard against ‘fat-finger’ mistakes.

‘Fat Finger’ Mistake

The error came from the company accidentally releasing figures which revealed a 20pc fall in profits earlier than they planned. The news was supposed to be published after the markets closed in New York yesterday, but were instead released four hours early.

Substantial Loss

Of course the finance world were quick to pounce on this error, sending the web search engine giant’s stock crashing down to as much as 11pc in some cases.

This simple mistake knocked more than $22 billion from the value of the company in mere minutes.

Blame

A statement from Google was rushed out to the presses shortly after the titanic mistake, pinning the blame on their financial printer PR Donelly, who apparently filed a premature draft without Google’s permission to do so.

“We have ceased trading on Nasdaq while we work to finalise the document. Once it’s finalised, we will release our earnings, resume trading on Nasdaq and hold our earnings call as normal”

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