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Name Mix-Up Causes Stocks To Surge For Lucky Company

REUTERS/Brendan McDermid

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Eric Lieberman Deputy Editor
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Stocks for Snap Interactive, a company that makes mobile dating apps, surged as high as 164 percent after Snapchat (Snap Inc.) went public.

Snap Interactive’s valuation has actually risen since the first reports of Snap Inc. initial public offering (IPO) surfaced in late January, according to Bloomberg.

There doesn’t appear to be many possible internal factors that could have caused the uptick in investment. Snap Interactive has not made much news this year, according to the company’s official website.

Company name mix-ups have had an affect on stock trading before.

Tweeter Home Entertainment group surged as high as 1,500 percent in 2013 after Twitter, the social media company with the stock ticker “TWTR,” filed for its IPO, according to Business Insider. Tweeter, which had the stock ticker “TWTRQ”, ended the day up 684 percent from its opening valuation.

A Chinese stock that reportedly sounds like “Trump Wins Big” to Mandarin speakers surged following President Donald Trump’s victory.

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