Tee hee - investors, in a frenzy after hearing that Twitter Inc. was going public thought they were jumping in ahead of the game. They did. They just invested in Tweeter Home Entertainment Group Inc. Tweeter? Yes, a bankrupt electronics retailer. "The end result was a trading frenzy Friday that prompted regulators to step in and halt trading in Tweeter’s shares—a penny stock that surged as much as 2200% during the session. "Tweeter filed for Chapter 11 bankruptcy protection twice—in 2007 and 2008—and closed its stores. But it still has shares trading under the symbol “TWTRQ,” similar to the “TWTR” that Twitter disclosed late Thursday would be its ticker of choice when it sells shares to the public. “There are real investors who have probably made a mistake here and probably lost money because of it,” said Adam Mattessich, senior managing director and head of equity trading at Cantor Fitzgerland LP.
Posted on: Fri, 04 Oct 2013 22:24:23 +0000
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