YouGov (LON: YOU) shares are, by Google's count at least, up 74% this morning. Starting around 11.18, 11.20.
YouGov share price from Google.
There are other places obviously working from the same feed giving us the same information:
Well, OK, it could happen. A takeover bid could be at that sort of premium. It would be interesting if there was one at that sort of price. And of course if there is then we'd like to know about it. Because once a company is in play then there are all sorts of possibilities of someone else entering into the fray.
But YouGov is perhaps an off company to be offered such a premium. So it's worth checking other information sources. Perhaps ones that don't - possibly - take their information from the same feed that could be in error. Like, we could look at the actual stock exchange itself:
YouGov share price from London Stock Exchange
That's not conclusive as information from the exchange is delayed at least (note “at least” and not “by”) 15 minutes. But this is conclusive:
We've got at least one trade booked well after that purported vast 74% rise in the YOU share price which isn't at that hugely, by 74%, increased share price for YOU. So it probably hasn't happened then.
Of course, it is also possible that it has and that it's the stock exchange which is wrong. We think it's unlikely that that is where the error is but that's, even if a smaller one, a possibility. But that doesn't change the important point here for us. For whoever is making the glitch it's still true that there's a glitch. Which means we cannot trust any one information site. Sure, for small things it's probably not worth checking. But big things like this? A 74% change in a mature stock like YouGov? Yep, check.
As to why we should check. Well, if some people think the price is one thing and others another then there's a trade to be done there. Perhaps some of the CfD brokers are getting their price information from that same feed and service which thinks there has been that 74% rise. At which point - it would be a bit cheeky of course but worth trying - sell at those elevated prices on that platform then buy to cover on the real exchange. If the errors are the other way around then just reverse that trade.
After all pricing anomalies are trading opportunities because that's what arbitrage is.