Around the Nation
6:06 am
Thu January 16, 2014

Investors Confuse Nestor With Nest

Originally published on Thu January 16, 2014 3:07 pm

Transcript

STEVE INSKEEP, HOST:

Good morning. I'm Steve Inskeep.

A Rhode Island company called Nestor sells traffic enforcement systems. The company may well be a decent investment, but this week a blogger revealed its stock was soaring far beyond expectations. Nestor is traded under the stock market abbreviation NEST, and investors confused Nestor with a tech company called Nest, which is being sold to Google for billions. Mistaken stock purchases increased Nestor's value by 1,900 percent.

It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.