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Why Is Twitter (TWTR) Stock Soaring Today?
Shares of Twitter were up more than 7.5% in early afternoon trading on Friday after the social media company once again found itself at the center of multiple reports suggesting that it could see a takeover offer soon.
Twitter briefly crossed over the $24 per share mark shortly after Bloomberg reported that customer-relations software giant Salesforce (CRM - Free Report) was considering a bid for the company. Salesforce has been linked to Twitter takeover rumors for years, and the two companies were engaged in unsuccessful deal talks as recently as October 2016.
Meanwhile, notable short-selling firm Citron Research, which actually holds a long position in Twitter, speculated that Chinese tech giant Tencent (TCEHY - Free Report) could be a bidder:
Shares of Salesforce gained about 1.2% in the wake of the latest round of rumors. Tencent was up more than 2.7% in morning trading.
Want more analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
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