Nestor Inc.(fka NEST)

[mr40]

The same mistake was made by penny traders several months ago that caused the spike back then. I warned people they were buying the WRONG company as Nestor is a dead POS. Some people never learn.

Penny Stock Accidentally Blasts 1,900% Higher
Published Mon, Jan 20th, 2014 Louis Basenese, Chief Investment Strategist

On January 13, Google (GOOG) made a big splash into the home automation market by scooping up privately held Nest Labs for $3.2 billion.
The very next day, Nestor Inc. (NEST) – a Rhode Island-based company that traded over-the-counter for less than one penny – watched its stock soar 1,900%.
What gives? Investors confused the two companies, of course.
Not just a few investors, either. For two days in a row, close to two million shares of Nestor traded hands.

(And we wonder why Wall Street calls us the “dumb money!”)
It’s not even the only case of mistaken identity that we’ve seen recently.

Back in October 2013 – when social media darling, Twitter (TWTR), announced its highly anticipated IPO filing – investors bid up Tweeter Home Electronics Group (THEGQ) by 1,800%. (Its ticker symbol at the time was TWTRQ.)
Naturally, both penny stocks have since come crashing back down to Earth, handing thousands of investors big losses and a big dollop of embarrassment.
Forget the mix-ups, though. I’m not here to belabor the point that you should look twice before you hit the “Buy” button. That goes without saying.
Instead, I want to drive home how extremely sensitive penny stocks are to news – and, more importantly, why that’s a reality we can exploit for serious short-term profits…
Ever See a Stock Double Overnight?
Despite the misconception that all penny stocks are frauds, there are real companies – with actual businesses, sales and profits – that trade as penny stocks. Thousands of them, in fact.
Of the almost 19,000 stocks traded on all U.S. exchanges, roughly 6,000 are penny stocks, trading for less than $1 per share. And among those penny stocks, more than 2,000 are profitable, which is as real as it gets.
So what do you think happens when one of those penny stocks announces legitimate news? Well, shares often double (or more) overnight. And they don’t come crashing back down, either.
Want proof? Look no further than cloud-based videogame provider, TransGaming (TNG.V), which happens to be an active recommendation in our premium newsletter, WSD Insider.
On January 6, the company was trading for $0.19 per share, at a market cap roughly equal to its annual sales.
Then, on January 7, management announced its GameTree TV platform would be offered on smart televisions made by the $170-billion market cap Samsung, the world’s largest consumer electronics company.
Sure enough, the stock rocketed 105% higher on the news… in a single day.
Lest you think I’m merely cherry-picking an example, think again. Price doubles for penny stocks occur with incredible regularity.
During any given month, there are upwards of 890 overnight doubles, which works out to an average of about 30 per day.

[Slojab]

LOL. Fool me once (on 10/18)

Now, I see they got fooled again?

http://news.msn.com/offbeat/investors-buy-up-worthless-stock-after-confusing-it-for-an-actual-successful-company

[Renee]

NEST revoked:

http://www.sec.gov/litigation/admin/2014/34-71358.pdf

[freshy]

.04's up

[freshy]

Believe it or not she's running!!! lollllllllll

[BikerBob]

Because PENNY PLAYERS really are THAT Smart. LOL

[Royal]

lolololol

[Swish22]

I mean interesting that it jumped that much bc of the confusion. But I'd expect a giant sell off today??

[Thinknot]

Exactly :P

[MR MUTT]

The worst part of it was that hardly anyone who was holding NEST sold to make a huge profit. Too many people asleep at the switch. For those who knew and did not trade...shame on you! These opportunies are few and far in-between.

PS I am not free from guilt either...last year I sold EAHC @.10 when it flew to .45 a few days later. I know I need to rent or buy a crystal ball.

[UP Trend]

Shoot, saw the news yesterday and was gonna buy this knowing it will be a mistaken ticker but got carried away with MMJ plays and forgot about it. Congrats to those who played this.

[Rainer]

It's just funny because the same exact confusion happened a few months ago. Guess there was new traders to be fooled today. Nice move. Missed it.

[MR MUTT]

It ran today because people confused the two companies. Nestor is not Nest Labs. LOL google purchased Nest Labs for 3.2 billion

[MR MUTT]

It ran today because people confused the two companies. Nestor is not Nest Labs. LOL google purchased Nest Labs for 3.2 billion

[Rainer]

Is this trading on the grays? Why did this run today? Google bought Nest, INC, not NEST.

[MrNewbieTrader]

Lol no worries TPD, I'm sure there will be plenty trying to "beat the crowd" like they did with TWTRQ before twitter announced its ticker. These plays can be good for a flip, but would hate to be the last one turning off the lights if you know what I mean.

[MR MUTT]

Other than what you heard on the radio, I have not seen any other news outlet reporting it. This is so hilarious. That is why I love the playing the market.

If I had the money, the real money will come by shorting the hell out of it.

[MR MUTT]

Other than what you heard on the radio, I have not seen any other news outlet reporting it. This is so hilarious. That is why I love the playing the market.

If I had the money, the real money will come by shorting the hell out of it.

[waycokid]

Driving home and couldnt believe I just heard KCRW reporting on
this NEST pennystock, how people thought it had something
to do with the Google buy and how it shot up >1900%. In the same vain of TWTR penny play.
Good to c penny plays getting national attention though. Even if its for the wrong reason.

[DIG4SLVR]

Yeah lol wow....confuse SKT0 to $1 LANd ; )

[freshy]

Same here..but I discovered it wasn't the same company...so I didn't bother...never thinking one could capitalize off the confusion...took a small position...we'll see if it takes off

[gixxer11]

There was a block of 200,000 right before the close yesterday @.002

They Turned $400 into $8000.00 in less then 24hr

Should have known this would pop again lol

[Thinknot]

According to Googles latest PR, this one is actually happening.

Google bought out NEST for 3.2b


Scratch that.... Just a lil research shows they are seperate companies... Feel bad for anyone that rushed in to beat that pump, I probably would have done the same..

Almost got me lol, when it sounds to good.... It probably is!

[MrNewbieTrader]

What's up with these scammy tickers NEST and BIT*F lol. Congrats to those who made $$$ today!

[Thinknot]

Check out the latest PR by GOOG

[TrendVestor]

Hilarious! Anticipate these plays. Too funny.

[DIG4SLVR]

And to think I read that news last night, and didn't buy it this morning.....

[freshy]

WOWWWWWWWW..WTF??????

[ronaldo1149]

YES shows news of google buying nest for 3.2 bil. on 01/13 Nest company not Nestor LMAO(news was on my ameritrade screener)

[Wam342000]

Incredible.. someone is still pumping this POS, even if it's grey

[mr40]

This is the company people THOUGHT they were buying when they threw their money into NEST.

It is a PRIVATE company founded by Tony Fadell of Apple fame.


http://www.usatoday.com/story/tech/2013/11/11/change-agents-tony-fadell-nest/3296045/

[Renee]

Not necessarily will NEST trade on November 4th. NEST is egregiously delinquent in filing any Financials. It is unlikely NEST will comply with the Admin Order to produce Fins within the ten day suspension.

FYI, the SEC Admin Law Judge typically revokes the stock registrations within a few days after the SEC Suspension expires.

If NEST does trade on November 14th it would be prudent to get out of the stock.

Readers may look at the ~900 stocks that had their registrations revoked for failure to file Fins once the stocks were suspended.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=92264550

[puckhead]

about freaking time.....

[waycokid]

RESUMES TRADING: Thursday Nov 14

[Renee]

NEST SEC Suspension:

http://www.sec.gov/litigation/suspensions/2013/34-70784.pdf

Order:

http://www.sec.gov/litigation/suspensions/2013/34-70784-o.pdf

Admin Proceeding:

http://www.sec.gov/litigation/admin/2013/34-70785.pdf

[mr40]

Hard to believe someone held NEST for 6 yrs but then sometimes a stock has dropped so much it's not worth selling unless you need a tax writeoff.

Sold all my internet flyers before the bubble burst and bought a ton of a company that was paying an 8% div at $20 a share. Not sure I will ever sell this one as the div today is $3.50 and that provides a very nice income. Today it trades at $48.18 and I have a huge negative basis.

[mr40]

I did a bit of DD on NEST and realized that it was a POS that was being pumped for the wrong reason and people were buying the wrong company.

I search for that "rare" company that has been around for more than a couple of years. I buy and hold and that works fine for me. I still have stocks I bought in 2000!

[goosegoose12]

Buying any and all penny or sub penny stocks is only a "transfer of wealth". and one should never ever ever ever ever hold more than a few days or weeks for any reason they are all HIGH RISK scams and within a year or 2 they all ALL disapear or go worthless none ever make it 1 in a million maybe

[goosegoose12]

lol The stock has more than doubled since my first post on this board how could you not of made money on this in the last 3 days ?

[puckhead]

It happens to all of us at some point. Almost all investors lose money. Some never learn from it. They are not investors but more like gamblers. I am only here because I have had NEST in my portfolio for over 6 years.....Thanks to Mr Gore I made a hefty profit on deadweight. I plan on never looking back but for shear entertainment value I will watch for a while.

[mr40]

No I never heard of that one. Someone sent me a PM on NEST and I checked OTCMarkets and read the news article and immediately realized what was happening.

[mr40]

That's great for you but what about the now poorer sheep who flocked to this debacle and lost thousands of dollars?

Those who bought NEST participated in a "transfer of wealth".

[puckhead]

Completely agree.......are you familiar with BCIT?

[ClearlyStocks]

Because many searches are usually for bottom bouncers. It's still on a lot of peoples watch list. Once they see to pick up a bit, all jump in as well

I got in real low. So I'm pretty safe here

[mr40]

Just like this NEST mess, a few years ago someone took a BK filing, photoshopped it to change the dates and info and used it to pump a dead horse. Took the SEC 5 days to halt trading on it. The fact is that companies like that one and NEST should not even be tradeable.

[mr40]

Now that is absurd! Buying NEST was a mistake and those who failed to do even basic research before putting their fat finger on that buy button are now trying to entice new investors so they can run the pps up and recover anything they can.

WARNING!

Bag holders are stuck at much higher levels....

They have Al gore to thank for it.

Blame Al Gore for investing in a private company that makes thermostats? Blame the news article?

Blame everyone except the people who BOUGHT STOCK IN A DEAD COMPANY!

[puckhead]

I am amazed at the lack of DD which suggest an investment based on some Faith or Mood.

Would not doubt if some savvy boiler room phone jockey had the idea, a few well placed posts and they were able to resurrect an old pump and dump assignment from last decade.

Just goes to show you how inept our regulators are. Or their lack of a give a shit factor. After all this is pinky land.

[mr40]

Really?

I think the buyers will be flocking in like birds really soon. Would not be surprised to see 1 more crazy promo and explode this tom or next week past .10 again

The NEST run was the result of a couple of guys mistaking NEST for the company Al Gore invested in!

Why would you expect more "birds" to be making the same mistake and buying shares in this dead POS? NEST needs to be returned to the grave someone dug it out of and hopefully by Halloween!

[goosegoose12]

I made thousands off this little gem in the last 2 weeks thats a fact

[mr40]

NEST is a defunct company, delisted from the NASDAQ in 2008. It last did a RS in April of 2003 and there are under 30M shares O/S.

Now why would anyone suggest a RM is possible. It is more probable that the SEC would halt trading on this empty shell.

The run to .15 was the result of people failing to do DD AND THEY BOUGHT THE WRONG COMPANY'S STOCK.

NEST is NOT the company Al Gore invested in!