Twitter Inc (NYSE: TWTR)
Twitter was off to a normal day in the market. When the opening bell rang, the stock was slightly in the red. From there, it pushed slightly to the green before falling back into the red. However, minutes ago, the stock started spiking in a big way. Below, we’ll talk about what we’re seeing from TWTR, why, and what we’ll be watching for ahead.
What We’re Seeing From TWTR
As mentioned above, Twitter looked like it was off to a relatively normal day in the market today. At the open of the trading session, the stock was trading in the red. However, it didn’t take long to get to the green. From there, the stock teetered on the break-even point. That is, until minutes ago when the stock started to spike. At the moment (10:07), TWTR is trading at $17.60 per share after a gain of $0.23 per share or 1.29% thus far today.
Why The Stock Is Climbing
In this case, our partners at Tradespoon were the first to inform us of the spike on TWTR. As soon as they did, the CNA Finance team started to dig to see what was causing the movement. In this particular case, it didn’t take long to uncover the story. It seems as though the gains on the stock are being caused by yet another social network rumor.
At the moment, regardless of which social network is your favorite, if you search for Twitter, you’re likely to see the rumor. The rumor is yet another acquisition rumor, suggesting that Softbank will be taking the company over. This rumor has popped up few times since the failed auction on the company. So, we’re not expecting for it to come to fruition.
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TWTR. In particular, we’re interested in learning more about this rumor. While we believe it’s not going to happen, if there is any validity here, it could be great for investors. Nonetheless, we’ll be watching the news closely and bringing it to you as it breaks!
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