Twitter Inc. stock jumped more than 5% Wednesday, even as markets lagged, after one of the social network’s cofounders hinted on television that the board would at least consider a sale. Ev Williams, a Twitter cofounder and board member, was asked by Bloomberg TV on Wednesday morning about a potential acquisition, and admitted that the board had to weigh the potential for such a move. “We’re in a strong position now, and as a board member we have to consider the right options,” Williams said. Analysts have frequently called Twitter a potential acquisition target, with Google parent Alphabet Inc. commonly mentioned as a potential suitor. Twitter shares reached as high as $19.60 in Wednesday morning trades, a gain of 6.6%, while the S&P 500 bounced between small gains and losses.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News