Amazon Says Its Stock Price âMislabeledâ
Less than a week after Amazon.com fixed a pricing error that enabled customers to buy toys at deep discounts, the company announced today that due to another glitch in its ordering software, the price of its stock has been incorrectly labeled at $30. The actual price should be $230, the company insisted. Amazon apologized for the inconvenience, and asked the Nasdaq stock exchange, where its stock trades, to please correct the price. As a goodwill gesture, the company said it will give $5 gift certificates to investors toward their next Amazon stock purchase. Nasdaq responded that it would honor the companyâs request âwhen Hell freezes over, or Amazon turns a profit,â whichever comes first.