Twitter spikes after unconfirmed Salesforce takeover rumor
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- Shares of Twitter spiked more than 6% Friday, passing the $23 mark, after an unconfirmed rumor said Salesforce was again considering a takeover of the social network. Bloomberg reported the speculation, citing four people who said they heard chatter of a deal.
- Salesforce previously walked away from talks to buy Twitter in October 2016.
- Earlier this week, COO Anthony Noto unexpectedly left Twitter for lending startup SoFi.
- Twitter is reportedly working on a Snapchat-like video sharing tool, Bloomberg reported this week. Shares of Twitter barely budged on the report, but Snap fell more than 4%.
- Twitter has struggled to raise its stock price in recent years amid criticism of the company's response to rampant abuse on the platform. The stock is up 38% over the last 12 months, but still trades at less than half its peak of $69, reached in January 2014.
- Shares are now roughly 10% above Wall Street's consensus target of $21.46 for the stock, according to analysts polled by Bloomberg.
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