Twitter Inc (NYSE: TWTR)
Twitter was off to a relatively normal day in the market today. The stock was in the green at the bell. From there, it saw its ups, it saw its downs, but nothing in the movement was exciting. That is, until minutes ago when a report that will most likely prove to be false hit. Below, we'll talk about what we're seeing, why, and what we'll be watching for ahead.
What We're Seeing From TWTR
As mentioned above, Twitter was off to a relatively normal day in the market today. When the opening bell rang, the stock was slightly in the green. From there, we saw some upward movement and some downward movement, but nothing really caught anyone's eye. That is, until minutes ago, when a report broke that led to the beginning of a spike. At the moment (1:14), TWTR is trading at $17.31 per share after a gain of $0.22 per share (1.26%) thus far today.
Why The Stock Is Spiking
As usual, our partners at Trade Ideas were the first to inform us of the gains on TWTR. When they did, the CNA Finance team started digging to see what was causing the movement. It didn't take long to find the story in this case. It looks like the gains are being caused by a report on Intereconomia. In the report, the website alleges that Disney (DIS) has made a bid to acquire Twitter.
At the moment, there is no confirmation of the acquisition, and in reality, this report is more of a warning. My friends, I have been doing this for some time. I've seen tons of reports from Intereconomia. Historically, the company has reported on several acquisitions; many of them that actually happened. However, when they are the first to report an acquisition, we can expect it to be a rumor. Sorry guys, you've gotten it wrong time and time again. Look, I'm far from perfect, but it's like these guys don't even try! With Intereconomia being the first to report the possible TWTR acquisition, I have to say, don't get your hopes up until we get confirmation.
What We'll Be Watching Ahead
Moving forward, we'll keep a close eye on TWTR and DIS. However, as with most rumors, this one is likely to be false. At the end of the day, Disney has already declined to offer the company anything and I doubt that's changed. Nonetheless, we'll watch the news closely and bring it to you as it breaks!
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[Image Courtesy of Pixabay]