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This article was published on July 14, 2015

Twitter nixes $31bn buyout rumors started by hoax

Twitter nixes $31bn buyout rumors started by hoax
Lauren Hockenson
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Lauren Hockenson

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Lauren is a reporter for The Next Web, based in San Francisco. She covers the key players that make the tech ecosystem what it is right now. Lauren is a reporter for The Next Web, based in San Francisco. She covers the key players that make the tech ecosystem what it is right now. She also has a folder full of dog GIFs and uses them liberally on Twitter at @lhockenson.

It’s been a wild ride for Twitter stocks this morning. A fake news report drummed up the idea that the company would receive a buyout offer for $31 billion, which sent stock soaring.

The report appears to be from Bloomberg Businessweek, with the byline of actual reporter Stephen Morris. But the source website is a fake — coming from a Bloomberg.markets URL, which the corporation does not own. A spokesperson from the company has already denied the veracity of the article, and the website seems to be registered to someone in Panama.

According to CNBC, Twitter has outright denied any buyout claims.

Stocks for Twitter surged this morning on the report, rising roughly 8 percent. Of course, it then precipitously dropped as soon as it was debunked.

See the stock chart below:

Twitter Stock 72015

Rumors have swirled around Twitter’s future since the exit of CEO Dick Costolo. Most recently, it has been subject to rumors of an acquisition by Google.

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