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What's funny is that anyone with a bit of a forward thinking could have doubled their money today by buying TWTR Inc (which is not Twitter) trading for $0.03 wi
by vizzah 13y ago
What's funny is that anyone with a bit of a forward thinking could have doubled their money today by buying TWTR Inc (which is not Twitter) trading for $0.03 with an identical symbol TWTR, but on another market exchange.
As already happened several weeks before (after it was announced Twitter will be trading as 'TWTR'), the wrong stock exploded due to traders mistakenly placing their buy orders.
It should have been perfectly safe to assume similar would happen on the IPO day. It went from $0.03 yesterday to $0.06 today for a while :)
Just look at this graph over 1 month span:
https://www.google.com/finance?q=OTCMKTS:THEGQ https://www.google.com/finance?q=OTCMKTS:THEGQ
- bigbang 13y agoIt's interesting how Google got it mixed up as well. All the news stories for the stock are for the 'real' Twitter.
- Kranar 13y agoNot really. First it's not sold on an exchange, it's only available over-the-counter, meaning very few brokerages are going to grant access to it. And even for those who do you can't just submit your order anytime you feel like it and get executed against, you have to apply to buy the shares and the brokerage has to find a market maker willing to facilitate the exchange, it can take days for a trade OTC to go through. Third, the volume for that stock is only 1.5 million shares a day, that's only 40,000 dollars worth of stock traded a day. To give perspective that's less than the average amount of Microsoft stock traded in a single second. So no... you really couldn't have done this strategy.