Hoax prompts trading frenzy for ICOA stock - FOX 8 WVUE New Orleans News, Weather, Sports

Hoax prompts trading frenzy for ICOA stock

Updated:

Warwick, R.I. - A fake press release sparked a trading frenzy on Wall Street Monday for a little penny stock called ICOA.

The release indicated that Google had bought the hotspot provider for $400 million.

By midday, more than three billion shares of ICOA traded over the counter.

ICOA has confirmed the press release is a fake.  It has not mentioned who the company thinks may be behind it.

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