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Several people complained on social media about briefly seeing
the value of their DJT stock holdings on Charles Schwab
platforms inflated to figures more in line with what they would
be worth if the shares traded at the level of the Dow Jones
Transportation Average.
Some users said they faced a similar issue in pre-market hours
on Morgan Stanley's E*Trade trading platform.
Shares of Trump Media & Technology Group opened Tuesday at
$70.90, while the Dow Jones Transportation Average started the
session at 15,937.73 points.
For one trader, the Schwab brokerage balance jumped by more than
$1 million due to the error, according to a screen grab shared
on social media platform X. Reuters was unable to contact the
trader or independently verify the brokerage balance.
"It sure was nice seeing millions in the account, even if it
wasn’t real," another person, going by the username
@DanielBenjamin8, who faced the issue in his E*Trade account,
posted on X.
Two X users and one on Reddit surmised that the inflated
balances were due to the ticker symbol for the company being
nearly identical to the index.
A spokeswoman for Charles Schwab said that certain users on some
of Schwab's trading platforms saw their brokerage balances
briefly inflated due to a technical issue.
The issue has been resolved and investors are able to trade
equities and options on Schwab platforms, she said. Schwab
declined to describe the exact cause of the issue.
E*Trade did not immediately respond to a request for comment
outside of regular business hours.
Trump Media & Technology Group and S&P Dow Jones Indices, which
maintains the Dow Jones Transportation Average Index, did not
immediately comment on the issue.
While social media users said the issue appeared to have been
resolved, many rued not being able to cash out their supposed
gains from the error.
"I better go tell my boss that I'm actually not retiring," the
trader whose account balance had briefly jump by more than $1
million, wrote on X.
(Reporting by Saqib Iqbal Ahmed; editing by Megan Davies and
Michael Perry)
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