Oops, Yay! Nestor Inc Stock Shoots Up 1900 Percent on Google’s Acquisition of Nest - HotHardware
Oops, Yay! Nestor Inc Stock Shoots Up 1900 Percent on Google’s Acquisition of Nest

Oops, Yay! Nestor Inc Stock Shoots Up 1900 Percent on Google’s Acquisition of Nest

Maybe it's a sign of the Fast Food era that we live in where everyone is too busy to slow down, but in the wake of Google's $3.2 billion acquisition of Nest Labs, a maker of modern day digital thermostats and smoke alarms, investors flocked to gobble up stock of a company trading under the name "NEST," sending shares up a whopping 1,900 percent. The only problem? That wasn't the Nest investors were looking for.

The stock symbol NEST belongs to Nestor Inc., a company that provides automated traffic enforcement systems and services to state and local governments in the U.S. and Canada. It's a penny stock, which might have played a role in over anxious investors looking to score a big payday on Google's acquisition of Nest Labs.

Nest Thermostat
Stock traders who bought shares of NEST thought they were investing in Nest Labs, which Google recently acquired for $3.2 billion.

Another explanation as to why Nestor Inc.'s stock penny stock suddenly shot up 1,900 percent is that savvy investors and/or those with inside knowledge of the deal may have anticipated armchair traders mistaking the two companies. In relation to that, Bloomberg's Matt Levine brought up an interesting question on Twitter.

"If you had advance knowledge of the Google/Nest deal, would you buy some Nestor, Inc. shares? And would that be insider trading?," Levine posted to Twitter.

The short answer to his question is yes, based on the misappropriation theory which "outlaws trading on the basis on nonpublic information by a corporate 'outsider' in breach of a duty owed not to a trading party, but to the source of the information," according to a Supreme Court ruling in US vs O'Hagan. Nothing in the misappropriation theory says the information must be tied to the security you trade.

In any event, the lesson here is the same one you likely heard grade school teachers preach again and again -- "Pay attention, class."
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what's up i always use ad blocker no way will disable it for your site

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...?

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the site says to disable my ad blocker and add them to the white list

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its for advertising

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Rick, we're trying a new service. You do realize, when you ad block, you're taking the single sole source of revenue from the sites you visit. If everyone ad blocked, sites like HotHardware and many others would either die out or become full paywalls. Think about it. I encourage you to reconsider ad blocking for the sites you enjoy.

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your site wont die i don't like looking at ad's when im trying to look at tech .. ill just not look at your site anymore no loss to me but it's a loss to you ...

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@Rick, You're sorely mistaken. Plenty of sites would die of everyone ad blocked. And frankly, you're not a loss to us if you ad block either but we're hoping you'd see it a different way and actually support sites you enjoy. It makes logical sense doesn't it? Our ads are very relevant and placed well on the page so as not to obstruct content or get in the way of the experience.

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Hot hardware I respect what your saying and the revenue side of what your saying, but if your one of those sites that forces people from seeing or doing anything on the site without turning off ad blocking services , that's not only a really bad look to any respectable site, but your also cutting of a potential social media revenue and publicity, and if your soul purpose is to only have people click on ads your already doing a lot wrong

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Yay...more traffic enforcement signals...damn.

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Some people should not participate in the stock market.

And, some people shouldn't complain when they get reminders to please help support the site they're using. Either adjust your ad-blocking software so that you don't see the message, or be a decent human being and unblock the site, if you like it. But, *don't* whine like some child who that thinks he can dictate service expectations to a site he's not supporting.

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Steven FL, not at all actually. It's just an appeal message to whitelist the site in your adblock program, then you can continue on to anything you want just as always. It's a smart business practice and worth-while message to a reader.

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Steve HH does not block content for ad blocking, i just tested it out and it only puts a banner on the top of the browser asking you to white-list HH. People just don't understand that nothing can truly be free in life, most sites aren't created just because, someone has to pay for it and in hope they get a return. Who do you think has to pay for the servers to host it? the staff to run it? and the writers that publish articles? And lots more. Websites are no different then a business. HH does not force ads on you, they are placed out of the way and does not make any difference if they are there or not, if you like the ad click it, if not you might not even notice it. You guys try creating a well populated website, it takes lots of work and money to keep it running. HH is free and doesn't charge a cent to use their service, this is the least you can do.

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Wow, Inspector... I couldn't have said it better myself. :) Thanks!

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Definitely great idea, and I support the idea, if you like what the developers are producing then support the developers ,buy the game ,the cd , and in this case help the website of your liking , good article btw.

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LoL

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