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Investors confuse tweeter for twitter: Tweeter is up 523%
CNBC was talking about some discussion group about social media and everyone who participated talked about how important and great Twitter was. Then they were asked if they'd be using Twitter in five years and they effectively said, "I don't know, there may be something else by that point."
The ridiculousness of mistaking a penny stock with a slightly different name for Twitter (boy, people must have been thinking they were getting a deal getting Twitter for a nickel!) just is depressing from an investor education standpoint (because obviously this wasn't institutional investors) and from the standpoint of how social media (and I will say there will likely be one or more of these companies that stick around, the rest not) hype is overdone.
Reply to @scott: So I was asking myself how did all these folks find this silly company anyway? These dummies actually managed to find this obscure TWTRQ??
It will be funny if it turns out that they were all jumping on some misguided moronic hype via Twitter.
Reply to @Old_Joe: I think what's almost disturbing is 1:) the fact that they thought a literal penny stock was a multi-billion dollar company and 2:) the sort of "buy first, ask questions later" mentality. I said it before and I'll say it again: this country is desperately in need of financial education as part of high school. The fact that people could mistake this for Twitter is just astonishing.
I'm looking at this now and it appears as if it's halted. When it comes out of halt I'm guessing it will be what it was before all this happened. It was .15 earlier today and I wouldn't be surprised if it ended the day at less than a penny again.
Comments
CNBC was talking about some discussion group about social media and everyone who participated talked about how important and great Twitter was. Then they were asked if they'd be using Twitter in five years and they effectively said, "I don't know, there may be something else by that point."
The ridiculousness of mistaking a penny stock with a slightly different name for Twitter (boy, people must have been thinking they were getting a deal getting Twitter for a nickel!) just is depressing from an investor education standpoint (because obviously this wasn't institutional investors) and from the standpoint of how social media (and I will say there will likely be one or more of these companies that stick around, the rest not) hype is overdone.
It will be funny if it turns out that they were all jumping on some misguided moronic hype via Twitter.
I'm looking at this now and it appears as if it's halted. When it comes out of halt I'm guessing it will be what it was before all this happened. It was .15 earlier today and I wouldn't be surprised if it ended the day at less than a penny again.
And it wasn't just a few people, either:
Volume (Today): 14,358,359
Avg Vol (3m): N/A