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.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker, financial journalist, and money manager. As well as a book author and regular contributor to numerous investment websites, Jim is the editor of:
Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: