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Thu January 16, 2014
Investors Confuse Nestor With Nest
Originally published on Thu January 16, 2014 3:07 pm
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.