Tweeter changes stock symbol after Twitter mix-upOctober 8th, 2013 in Technology / Business
Tweeter is not Twitter. And it's changing its stock symbol to avoid any confusion.
The bankrupt electronics retailer's new ticker symbol is "THEGQ." Its old symbol was "TWTRQ."
That was apparently too similar to "TWTR," the symbol proposed by Twitter on Thursday when it filed plans for an initial public offering.
Some confused investors sent Tweeter's stock up as much as 1,400 percent on Friday.
The Financial Industry Regulatory Authority, Wall Street's industry regulator, halted trading of Tweeter's stock Friday afternoon. The over-the-counter stock resumed trading with the new stock symbol Tuesday.
Tweeter's stock is down 71 percent to 2 cents in afternoon trading.
Twitter's stock, meanwhile, won't be available for trading until the company actually goes public. That could be before Thanksgiving.
© 2013 The Associated Press. All rights reserved.
"Tweeter changes stock symbol after Twitter mix-up." October 8th, 2013. http://phys.org/news/2013-10-tweeter-stock-twitter-mix-up.html