NPR logo

Investors Confuse Nestor With Nest

  • Download
  • <iframe src="https://www.npr.org/player/embed/262946899/262946900" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Investors Confuse Nestor With Nest

Around the Nation

Investors Confuse Nestor With Nest

Investors Confuse Nestor With Nest

  • Download
  • <iframe src="https://www.npr.org/player/embed/262946899/262946900" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

A Rhode Island company called Nestor sells traffic enforcement systems and this week a blogger revealed its stock was soaring far beyond expectations. Nestor is traded under the stock market abbreviation NEST. Investors confused Nestor with a tech company called Nest, which is being sold to Google for billions of dollars.

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.

Copyright © 2014 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.