Nestor Inc is a Providence, R.I.-based company that sells automated traffic enforcement systems to local governments. It has 89 employees and trades over-the-counter under the ticker “NEST.”
That’s not to be confused with Nest — the high-tech thermostat and smoke detector company founded by former iPod genius Tony Fadell and sold to Google for a cool $3.2 billion earlier this week.
But don’t tell that to savvy investors! Nestor Inc. (the penny stock) is up 1900% on the news, as investors confuse the two companies. There’s actually pretty decent volume here too, suggesting that a good amount of people made the mistake or are trying to anticipate that people might.