Shares of Twitter Inc. (TWTR:NYSE) soared more than 7 percent on Aug. 3, on takeover rumors. According to media reports, large stakeholders including Microsoft Corp.’s former CEO Steve Ballmer and Saudi Arabia’s Prince Alwaleed bin Talal could be interested in buying the social network.
Trading volume went up from a daily average of 24 million shares to 55 million shares. Robert Peck, internet equity analyst at SunTrust Robinson Humphrey, told CNBC that Twitter’s board of directors would not be willing to sell the company at this stage. Peck said the board is “100 percent behind CEO Jack Dorsey and his turnaround plans.”
Twitter shares soared more than 7 percent on Aug. 3, on takeover rumors. Bloomberg
