You say Twitter, I say Tweeter
A bankrupt electronics retailer appears to have gotten caught up in the investor fervor for Twitter.
Shares of Tweeter Home Entertainment Group Inc. rose as high as 15 cents on Friday. That's up 1,400 percent from Thursday's closing price of 1 cent.
The Financial Industry Regulatory Authority, Wall Street's industry regulator, says the shares were halted on Friday afternoon because of a misunderstanding related to the “possible initial public offering of an unrelated security.”
What could have gotten investors so confused?
Tweeter trades over the counter, under the “TWTRQ” symbol. Twitter on Thursday proposed the stock symbol “TWTR.”
But Twitter's stock won't be available for trading until it goes public, possibly before Thanksgiving.
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