Twitter’s Shares Jump After Fake Story on Company’s $31bn Takeover Offer

Twitter’s shares jumped more than 8% on Tuesday after a fake online story said the company had received a $31bn takeover offer.
The shares jumped from $36.80 to $38.60 in less than 10 minutes after the fabricated story, which looked like a Bloomberg News story, was posted to Twitter and began to circulate.
The fake story, which fairly accurately mimicked the look and feel of Bloomberg and carried the byline of Stephen Morris, one of its writers, was posted at 11.36am eastern time. By 11.44 the shares had spiked 8%, before a Bloomberg spokesman tweeted: “Pls note - that $TWTR story everyone talking about is fake.” The shares quickly fell back to roughly where they had been by 11.50am.