Twitter launch, not even scheduled, gives Tweeter a boost

Oct. 4, 2013 at 4:26 PM   |   0 comments

| License Photo
NEW YORK, Oct. 4 (UPI) -- Shares of Tweeter Home Entertainment Group soared Friday, riding on the coattails of U.S. Internet giant Twitter's initial stock launch announcement.

Twitter -- the social network website -- has yet to go public, but said it was working toward that goal. Tweeter, on the other hand, is a Massachusetts electronics company that liquidated in 2008 and was languishing in the penny stock department, where it is listed with the ticker abbreviation TWTRQ.

That makes Tweeter's ticker name only one letter separate from Twitter's chose ticker nom de plume, which is TWTR, MarketWatch reported.

At one point Friday, TWTRQ stock was up 1,800 percent. More recently, it was up 523 percent, trading for 5 cents.

The only explanation within reach for Tweeter's sudden resurgence was the mix-up over the names, MarketWatch said.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Trending News
Join the conversation
Most Popular
Photos
Video
x
Feedback