“Shares in Catena Corp. (9815.TO) were sold lower Friday after the PC marketer said it could not fulfill orders for more than 100 million Apple Computer Inc.(NASDAQ-NMS:AAPL) (AAPL) computers that were mistakenly priced at only Y2,787 each (US$25),” Dow Jones News reports.
“Catena said the price was actually for a set of Apple’s five DVD-R optical discs, but that price appeared for Apple’s 17-inch display PC model on Yahoo Japan Corp.’s (4689.TO) Internet shopping mall from Wednesday afternoon to Thursday morning,” Dow Jones reports. “During that period, about 20,000 online shoppers placed over 100 million orders for the too-good-to-be-true bargain.”
“Investors punished the PC marketer for the mix-up. At 0533 GMT shares in Catena were down 2.8% at Y277, while the Nikkei 225 Stock Average was 0.9% higher. Catena is an information system integrator which also markets PCs and PC- related products online. The company Thursday issued a statement that ‘the price was a mistake and we can’t accept any of these orders,'” Dow Jones reports.
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