Friday, October 4, 2013

$TWTRQ - TWEETER Explodes Higher On Speculation $TWTR Will Have To Buy The Bankrupt Shell To Get $TWTR Ticker

TWITTER to IPO via a bankrupt, default penny stock shell?  That was the thought behind an over 1,000% early morning rally in $TWTRQ.  Unfortunatley for $TWTRQ buyers, you are out of luck.  $TWTRQ will trade under a diffferent bankrupt, default, worthless ticker when $TWTR begins trading publically next month.

Twitter may be the story of the day, but Tweeter is threatening to push the social-media company off its perch.
Tweeter Home Entertainment Group Inc.  TWTRQ 592.31% stock is up 523% Friday, trading at the whopping price of 5 cents. It hit as high as 13 cents in morning trade.
Why is this penny stock jumping so much? We don’t have a precise answer for you except to say that its ticker bears a striking resemblance to a social-media company that recently started chirping about its long-awaited initial public offering.
Twitter TWTR 0.00%, which released its IPO plans on Thursday, will trade under the ticker “TWTR” while Tweeter trades with the ticker “TWTRQ.”
Tweeter was a Boston-based consumer electronics chain that went into Chapter 11 bankruptcy in 2007; its operating company eventually liquidated in 2008. But its memory lives on through those raised in the Boston area with cherished memories of going to concerts at the Tweeter Center (now renamed the Comcast Center).
And now its immortality is cemented in what has become a high-profile ticker.