TWTRQ Stock Soared 1,500% Because Investors Thought It Was Twitter

Investors confused the stock with TWTR.

   

Tweeter Home Entertainment (TWTRQ) on Friday got a wildly huge bump by some 1,500% at one point, as investors mistakenly thought the stock was that of Twitter — which was given the stock ticker TWTR.

It ended up by more than 684% after fluctuating up and down — likely investors realizing their error.

The a consumer electronics retailer declared bankruptcy in 2007, so the stock was worthless, despite receiving such a huge boost. Trading in Tweeter shares was halted when the error was figured out — of course the stock was worth just one cent so the error did not have sweeping financial impacts.

A CNBC chart shows the error — and once news outlets started reporting the error, how quickly it ended.

twtqr 262x300 TWTRQ Stock Soared 1,500% Because Investors Thought It Was Twitter

Twitter shares are expected to start trading sometime before Thanksgiving.


Article printed from InvestorPlace Media, http://investorplace.com/ipo-playbook/twtrq-stock-soared-1500-because-investors-thought-it-was-twitter/.

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