Now Playing Tracks

A Penny Stock Called Nestor Just Surged 1900% Because People Confused It With The Company That Google Bought

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.

26 notes

  1. dvint1 reblogged this from thinksquad
  2. mellowmike reblogged this from thinksquad
  3. fittie7 reblogged this from thinksquad
  4. tested-ability reblogged this from yungbouterse
  5. yungbouterse said: 1 dollar turns 1900/ 1900 dollaes turns 3610000
  6. yungbouterse reblogged this from thinksquad
  7. suns-of-liberty reblogged this from thinksquad
  8. gold-and-xp reblogged this from thinksquad
  9. thinksquad posted this
To Tumblr, Love Pixel Union