Back to top

Real Time Insight

On Oct 4, 2013, Twitter announced that its ticker symbol after it went public would be TWTR.

But some investors were so eager to own Twitter, that they started buying the ticker TWTRQ, a penny stock, apparently mistaking it for Twitter even though it hadn't yet gone public.

TWTRQ was actually Tweeter Home Entertainment Group and it traded over-the-counter. The volume and price of TWTRQ soared. At one point, it traded up over 1000% before closing on the day up 659%.

Regulators were so concerned about investors mistakenly buying the wrong company, that Tweeter actually changed its ticker symbol shortly after to THEGQ.

But that wasn't the last time investors have bought the "wrong" stock.

Just this week, after Google announced it was acquiring Nest for $3.2 billion, shares of Nestor, with the ticker (you guessed it) of NEST, soared from less than a penny to 10 cents before closing at 4 cents.

Unfortunately for those investors, the "Nest" Google was acquiring was privately owned. Nestor, which jumped, had nothing to do with the deal.

But it's not just new tickers and acquisitions that can cause mistakes. 

Over the last month, there have also been jokes on social media that the recent surge in Potash shares, ticker POT, could be the case of mistaken identity with one of the popular marijuana stocks, Growlife, ticker PHOT.

Have you ever bought the wrong stock by mistake?

 

Just Released: 5 Stocks to Double

Today, you are invited to download a free Special Report from Zacks Investment Research. It reveals five moves that could gain +100% and more in the next 12 months:

One is a "boring" business delivering blistering growth. Another is a red-hot oil and gas producer set to surge on a drilling breakthrough. Still another, an online payment provider, ignited a 53% sales explosion during the past year.

Close This Panel X

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
ERBA DIAGNO… ERB 3.00 +3.09%
SANCHEZ ENE… SN 34.18 +2.67%
PANTRY INC PTRY 21.02 +2.09%
INTEL CORP INTC 35.15 +1.88%
PIPER JAFFR… PJC 54.54 +1.70%