Tweeter shares rise after Twitter news
NEW YORK – A bankrupt electronics retailer appears to have gotten caught up in the investor fervor for Twitter.
Shares of Tweeter Home Entertainment Group Inc. rose as high as 15 cents Friday. That’s up 1,400 percent from Thursday’s closing price of 1 cent.
The Financial Industry Regulatory Authority, Wall Street’s industry regulator, says the shares were halted Friday afternoon because of a misunderstanding related to the “possible initial public offering of an unrelated security.”
Tweeter trades over the counter under the “TWTRQ” symbol.
Twitter on Thursday offered investors details about its IPO and proposed the stock symbol “TWTR.”
But Twitter’s stock won’t be available for trading until the company actually goes public. That could be before Thanksgiving.
Editor’s note: The federal government shutdown halted the work of USDA Market News, which provides pricing data for Northwest wheat.