Twitter announced that it’s stock symbol will be (NASDAQ:TWTR) and then around 10:00AM EST, someone gets an idea to lookup the symbol, and finds (TWTRQ) which is for a defunct company called TWEETER (Not Twitter), and starts buying. others follow, and the stick goes from being a 1 cent stock to almost 15 cents. BTW, the “Q” at the end of a stock symbol means it’s in bankruptcy. GEN-IUSSS!!
Tweeter, had gone bankrupt in 2007. Twitter on the other didn’t even make money when Tweeter went bankrupt. Twitter only made $20-$25,000 in profits this year. (We’ll know more about the real earnings and profit after the IPO).
But that’s where the similarities will end. When Twitter launches it’s IPO, it will probably go through the roof. My opinion (Strictly my opinion) is that people will remember the Facebook IPO. It launched, went high, then crashed, then went up again, sort of like a skateboard HalfPipe. People panicked and bought, then panicked and sold, then wondered if they should have kept it, now their pulling their hair out.
This is what happens when amateurs get in a game that they don’t know how to play. So now that you know how the little horsey moves in Chess, are you a chess player? like John Pinette would say “GET OUT OF THE LINE!!!” (Minute 2:03)
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The market will show what happens today.
Diran Afarian