Fake report on fake website drives Twitter stock higher (though only temporarily)
Twitter has received an offer to be acquired for $31 billion according to Bloomberg. Well, not really Bloomberg, more like Bloomberg.market.
That site is apparently a fake, registered in Panama, according to a Reuters report.
But the report probably did what it was intended to do, drive Twitter stock up in mid-morning trading, before the report was proved false and the stock retreated. What will be next will be for the exchange to investigate who traded the stock today and got out with a hefty profit.
Bloomberg spokesperson Ty Trippet said the Twitter story is a fake – we know this because he said it on Twitter:
Pls note – that $TWTR story everyone talking about is fake.
— Ty Trippet (@ttrippet) July 14, 2015