This share surged 1,900 per cent for all the wrong reasons


Penny stock Nestor saw its share price soar nearly 1,900 per cent yesterday after investors mistook it for Nest, the home automation firm acquired by Google for £3.2bn on Monday.

Share price for Nestor, a US-listed company that sells automated traffic enforcement systems, closed yesterday at $0.03 a share following the dramatic spike.

(Google)


Confusion around similarly named stocks – such as penny stock Nestor, which trades with the ticker NEST, and Nest – is not a new phenomenon, last year Tweeter Home Entertainment saw its share price rocket 1,500 per cent after being mistaken for social network Twitter.