You can now read 5 articles in a month for free on BostonGlobe.com. Read as much as you want anywhere and anytime for just 99¢.

Red Sox Live

0

1

▼  5th Inning 0 outs

You say Twitter, I say Tweeter: Investor mix-up?

After Twitter released its securities filing, 14.4 million Tweeter shares traded hands.

Reuters/File 2008

After Twitter released its securities filing, 14.4 million Tweeter shares traded hands.

That’s Tweet-er.

Apparently a little too used to the shorthand language of the Internet, investors confused the social media phenomenon Twitter with Tweeter Home Entertainment Group Inc. of Canton, driving shares of the former electronics retailer to soar by more than 1,000 percent Friday.

Continue reading below

The Financial Industry Regulatory Authority, Wall Street’s industry regulator, said Tweeter shares were halted Friday afternoon because of a misunderstanding related to the ‘‘possible initial public offering of an unrelated security.’’

Twitter is the San Francisco-based creator of the Internet tool for short messages, known as tweets. It has some 200-million-plus users and in preparation for becoming a public company has been valued at more than $12 billion. On Thursday Twitter offered investors details about its highly anticipated IPO, in which it hopes to raise about $1 billion, and proposed to trade under the stock symbol TWTR.

Tweeter is a bankrupt company and penny stock. On average about 29,000 shares of the company trade daily — minuscule by Wall Street standards. Its shares trade under the TWTRQ symbol.

Continue reading it below

But on Friday, after Twitter released its securities filing, some 14.4 million Tweeter shares traded hands, with prices peaking at 15 cents each before declining to 5 cents at the time of the trading halt. The previous day the stock had closed at one red cent per share.

The electronics chain was founded in 1972 and sold TVs, stereos, and other equipment, but the stores disappeared years ago. The company filed for bankruptcy protection in 2007 and closed the stores in 2008.

Loading comments...
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com
Already a subscriber?
Your city. Your stories. Your Globe.
Yours FREE for two weeks.
Enjoy free unlimited access to Globe.com for the next two weeks.
Limited time only - No credit card required!
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.
Thanks & Welcome to Globe.com
You now have unlimited access for the next two weeks.
BostonGlobe.com complimentary digital access has been provided to you, without a subscription, for free starting today and ending in 14 days. After the free trial period, your free BostonGlobe.com digital access will stop immediately unless you sign up for BostonGlobe.com digital subscription. Current print and digital subscribers are not eligible for the free trial.