Twitter Inc (TWTR) Shares Trade Higher On Fake Buyout Offer

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Twitter Inc (TWTR) Shares Trade Higher On Fake Buyout Offer

The shares of Twitter are trading higher following a fake report indicating that the company received a $31 billion takeover offer from an unidentified buyer. The story also mentioned that Twitter is working with bankers after receiving the offer.

The stock price of the microblogging company surged more than 8% after the fake story was circulated by a website that looks like Bloomberg.com. Twitter Inc (NYSE:TWTR) lost most of the gains within 20 minutes.

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The shares of Twitter Inc (NYSE:TWTR) are trading $36.90 per share, up by more than 3% at the time of this writing around 1:56 in the afternoon in New York.

Bloomberg says Twitter (TWTR) story was fake

Ty Trippet, a spokesperson for Bloomberg, said the Twitter story published on the Bloomberg.market website was a fraud. He said,