Tweeter Home Entertainment Group, a specialty consumer electronics company that went bankrupt in 2007, saw a its most active day of trading in more than six years even though it has nothing to do with the social media site.
The stock, which trades over the counter, closed Thursday at a price of less than a penny a share, and Friday hit a high of 15 cents a share on Friday, before paring gains to trade at 5 cents, a 669 percent rise. More than 11.7 million shares had traded by midday.
The volume was the most active trading day for the company since May 10, 2007, when 13.05 million shares were traded and the company reported quarterly results and said it may choose to file Chapter 11 bankruptcy.
To say the stock is lightly traded in normal times is an understatement, sometimes going several days without even trading 1,000 shares over the course of a full session.
However, in the last two weeks Tweeter shares' price and volume ticked higher following Twitter's announcement on September 12 that it had confidentially filed for an initial public offering.
The moves on those days were not nearly as extreme, with the stock reaching a high of 3.5 cents, and seeing volume between 200,000 and 1.1 million shares, depending on the day.