Small Mistakes That Cost Millions To Fix

Published on October 2, 2019 By Chloe Draws

A stockbroker’s typo cost a Japanese company millions – $225 million

In 2005, a stockbroker accidentally mistyped data that was being analyzed by Mizuho Securities Co., a Japanese company. The stockbroker intended to to offer a single share in J-Com’s stock for 610,000 yen which translated to $5000 on the New York Stock Exchange but instead ended up offering 610,000 shares for 1 yen.

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When investors saw the opportunity they bought in bulk and the company ended up losing a total of $225 million.