Excitement for Twitter’s coming IPO is running pretty high – so much so that some investors on Friday mistook the nearly worthless stock of long-dead electronics retailer Tweeter for the “tweeting” site, sending shares up more than 1,000 percent.
Fuck people are stupid.
Face.. to… keyboard….
Let me guess, Tweeter stock was overpriced, just like all their inventory.
I feel stupid for not knowing about this and buying at $0.025 and selling at $0.10 within an hour.
Happens more often than you’d think. I worked for a company that was traded on the TSE. It had the same two-letter symbol as a massive Mexican company traded on the NYSE. One day our stock shot up massively in price because the Mexican firm had beat analyst projections.
The stock market in a nutshell.
Damn, if only I’d known.
I’m amazed people not only thought Twitter IPO shares would trade for a nickel, but also went looking in the boneyard of the pink sheets for an IPO.