If you attempted to capitalize on the Berkshire Hathaway glitch by purchasing during the dip, brace yourself for unfavorable developments.

 The attempt by numerous investors to seize the opportunity presented by Monday's NYSE glitch, aiming to purchase Berkshire Hathaway's Class A shares at a staggering discount exceeding 99%, may result in disappointment. According to insights from officials at two prominent Wall Street trading firms, even if some managed to execute their orders before trading was suspended, it's improbable that they will retain possession of the shares.

Joe Saluzzi, co-founder of Themis Trading, expressed to MarketWatch that trades responsible for Monday's remarkable decline are likely to be annulled due to the exchange's protocol regarding "clearly erroneous transactions," enabling market makers to challenge trades believed to stem from glitches. "These are definitely going to be busted," Saluzzi emphasized during a phone conversation with MarketWatch. "They are so far away from the mark."

Jonathan Corpina, senior managing partner at Meridian Equity Partners, echoed similar sentiments. Notably, certain trades seemed to have been executed at evidently incorrect prices, prompting the trading halt on Monday, and Corpina anticipates their eventual reversal.

Several stocks, including Berkshire (BRK.A), Bank of Montreal (CA:BMO), and Barrick Gold (CA:ABX), encountered trading suspensions by the New York Stock Exchange on Monday morning following sharp declines. Berkshire's shares, for instance, were indicated to have plummeted by 99.97% to $185.10, contrasting sharply with Friday's closing price of $627,400, as per FactSet data. The halt occurred at 9:50 a.m. Eastern time, as reported by NYSE's website.

In theory, this downturn would have nearly halved Berkshire's market capitalization to $536.3 billion around 11 a.m. Eastern time on Monday, compared to $897.1 billion at Friday's close, according to Dow Jones Market Data. Trading in Berkshire's Class B shares (BRK.B) remained unaffected by the glitch.

In an online statement, the NYSE acknowledged that it was investigating a "technical issue" linked to its "limit-up, limit-down bands," designed to halt trading automatically if a stock or index surpasses certain volatility thresholds. Subsequently, the exchange attributed the issue to industrywide price bands published by the Consolidated Tape Association's securities information processor.

All securities subject to halts have since resumed trading, according to the NYSE. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, did not respond to MarketWatch's request for comment.

Monday's occurrence evoked memories of a trading malfunction in January 2023, when discrepancies with the NYSE's opening auction led to trades in over 250 securities being executed at erroneous prices. At that time, the exchange declared that those trades would not be honored.