How Google-Nest deal boosted another stock 1,900%

Image source: Nest

Earlier this week we witnessed a pretty awesome refutation of super strong versions of the Efficient Capital Markets Hypothesis.

Google announced its multi-billion dollar acquisition of Nest Labs, which makes stuff like internet-connected smoke alarms and thermostats.

As that happened, a company trading under the symbol NEST shot up 1,900 percent. The problem is that company, Nestor, has nothing to do with the company Google bought. Nestor is an empty shell that's been in receivership since 2009.