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Don't call it a Crumback

Crumbs Bake Shop abruptly closed its stores due to financial problems. A day later, share prices soared over rumors a CNBC star could revive the cupcake chain.

In which we learn once again that stock markets are stupid: 

Ticker symbol CRMB today? Up more than 1,000 percent. You read that right.

That's interesting since we learned Wednesday cupcake chain Crumbs Bake Shop has shut everything down and will likely go out of business. Apparently some guy on CNBC said he'd save it – that is, throw some money at it – hence the spike. 

 

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.

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