Long Live Tweeter? (TWTR) (TWTRQ)

October 4, 2013 11:10 AM EDT
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When Twitter filed its highly-anticipated IPO on Thursday the company said it plans to list under the stock ticker "TWTR," although an exchange has not yet been selected. Today, however, some have already started trading the ticker "TWTRQ," which is the symbol for now-defunct Tweeter Home Entertainment Group.

Shares of Tweeter Home Entertainment Group (OTC: TWTRQ) are up an astonishing 1,423% Friday to 0.099 in pink sheet trading. Before the bankruptcy, the company traded under Twitter's new symbol "TWTR." With the bankruptcy the "Q" was slapped on the stock, which is standard protocol for bankrupt stocks.

Although shares of Tweeter Home are still trading, there doesn't appear to be anything left to the company. Both domains www.tweeter.com and www.twtr.com are down and filings point to claims administrator Kurtzman Carson Consultants LLC (KCC).

As far as the stock goes, there is a near zero chance that those buying the defunct Tweeter will get new shares in Twitter. It is clear those buying TWTRQ today are either fools or those wishing to sell to greater fools.

A call is being made to the FINRA on the matter.

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