Twitter IPO Sends Tweeter Shares up 669 Percent in One Day
Twitter IPO Sends Tweeter Shares up 669 Percent in One Day (YahooFinance)
The next big initial public offering, that of Twitter, is getting investors excited again about social media. However, that enthusiasm is also spreading to some unintended corners of the market. Confused investors have inadvertently invested in long-gone electronics retailer Tweeter Home Entertainment, helping shares to post a 669 percent gain in a single day. Tweeter went bankrupt in 2007, yet last Friday experienced its most active trading day in six years. The defunct company’s stock was trading at less than a penny a share before the deluge of deluded investors took that price to more than 15 cents. The stock quickly gave back some of its gain, but ended the day at around five cents, for a 669 percent rise. If you still held shares in Tweeter, we hope you were able to make something back for your trouble.