In Tuesday night’s State of the Union address, President Obama announced a new retirement savings programcalled MyRA.
What is MyRA? Our Josh Barro explains here.
But here’s what MyRA is not: Myriad Entertainment & Resorts, an over-the-counter penny stock that delisted from exchanges in late 2009 after it stopped filing 10Qs with the Securities and Exchange Commission.
Of course, this didn’t stop shares of MYRA from surging 900% after Obama’s speech. It’s now trading at the low low price of $US0.0009, up from $US0.0001 (via Nicholas Johnston).
We’ve seen this movie before. After Google bought high-tech termostat company Nest, investors drove Nestor Inc — an automated traffic enforcement system company in receivership since 2009 — up 1900%.
There there was Tweeter Home Entertainment (TWTRQ), which careened up 1500% after Twitter (TWTR) went public.