(Yicai Global) August 11 -- The share price of Hailiang Education [NASDAQ:HLG], a Chinese concept stock listed in the US, skyrocketed from USD10.18 to USD199,999.99 per share after a fat finger (trading) error yesterday evening, Beijing time.
The K-12 educational services provider subsequently suspended trading before resuming at 9.43 a.m., Eastern Time Zone. The price then fell back down to USD10.19 per share.
A total of 700 shares were traded before the suspension, with a total transaction volume of USD140 million.
The fat finger error led to Hailiang Education reaching a total market value of USD5.4 trillion, higher than the total value of the four FANG companies: Facebook Inc. [NASDAQ:FB], Amazon.Com Inc. [NASDAQ:AMZN], Netflix [NASDAQ:NFLX], and Google owner Alphabet Inc. [NASDAQ: GOOGL]) combined.
The company’s share price hit a high of USD10.98 per share today and is valued at USD10.35 as of 1.48 p.m. Beijing time, up 3.97 percent.
Hailiang Education Group is a non-governmental primary and middle school education group. It began trading on the NASDAQ in July 2015 to become the first full-time elementary education company to list in the US.