Traders boost the wrong stock for a second time after J&J takeover [CNBC]
Auris Medical Holding AG (EARS)
Last auris medical holding ag earnings: 8/10 06:31 am
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Source: CNBC
Traders boost the wrong stock for a second time after J&J takeover Drug developer Auris Medical takeover announcement from Johnson & Johnson But Auris Medical isn't the company being bought by J&J. Auris Health is. Investors (and computer algorithms) mistakenly bought shares of Auris Medical instead of Auris Health, a robotic surgery company. This was actually the second time that Auris Medical has gotten a surprise boost. The stock jumped more than 30 percent on Jan.23 when news came out that J&J was pursuing a deal with Auris Health. Auris Medical has a tiny market value of $12 million and is based in Zug, Switzerland. It makes treatment inner ear ailments. The mistake flies in the face of investors who argue the stock market is efficient and becoming smarter because of the prevalence of computer trading.
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