Yesterday, Twitter decided to go public, a move that’s been expected for a couple of weeks now since Twitter announced via the service that they had “confidentially submitted an S-1 to the SEC for a planned IPO”. Shares are expected to begin trading some time next month, but that hasn’t stopped some eager investors buying shares in what they thought to be Twitter.
When Twitter decided to go public they chose the stock ticker TWTR, a ticker that’s very similar to Tweeter Home Entertainment, which has the stock ticker TWTRQ. Some investors have jumped the gun a little bit and started to buy shares in TWTRQ which has caused their share value to rise by around 1,500%, by the end of trading the TWTRQ stocks had plateaued to 682%.
The stock has since been halted since the news broke out so I’m not sure what that means for the company and the new shareholders who are probably kicking themselves.