Glitch Causes Massive Price Cut at Amazon.com (AMZN) in the U.K.

Amazon.com (Nasdaq: AMZN) shares are on watch following a costly glitch that happened last weekend.

According to reports out Monday, thousands of products on Amazon's U.K. site sold for the low, low price of 1 pence. The episode occurred between 7 and 8 pm last Friday night.

Engadget noted that the incident might not be entirely Amazon's fault; some of the blame may reside with Repricer Express, which is a third-part service used to automate price adjustments for sellers.

Amazon quickly resolved the problem and cancelled a vast majority of erroneous purchases.

Shares of Amazon are flat in early trading.

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