Investors would no longer be confused even as Twitter and Tweeter had same sounding names. This was after Tweeter, a bankrupt consumer electronics company, had started trading under a new stock symbol said a Reuters report. Investors would no longer be in danger of confusing the two firms.
The move made by Tweeter Home Entertainment Group to change its trading symbol was to prevent investors from mistaking the company for Twitter Inc. This was after Twitter Inc. announced its forthcoming initial public offering, the most anticipated offering following another social media giant's debut last year.
The Financial Industry Regulatory Authority had given Tweeter a new trading symbol "THEGQ". This would replace its old symbol "TWTRQ" which was similar to Twitter Inc's "TWTR" trading symbol.
The shares of Tweeter had increased for than 1000% last Friday, reported Reuters. This was after investors got excited about the impending debut of Twitter which they had mistakenly selected the wrong company's trading symbol, said a Reuters report.
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