Gasparino: Bankers Talk Twitter Sale, But Price Would Need To Come Down
Near the close, Fox Business reporter Charles Gasparino tweeted, “#BreakingNews Investors nervous about lack of clarity on taxes and yes once again bankers are talking up $twtr sale more now @FoxBusiness.”
Minutes later, Gasparino appeared on Fox Business to say that Twitter would need to come down in price in order to secure an M&A deal. He personally "wouldn't buy it at $17 but...would buy at $12."
Earlier in the day, another Tweet circulated a fake report of interest in the company and saw shares spike to $17.78 on high volume.
The stock spiked late in the trading day and closed up 3.13 percent at $17.78.
Back in June 2015, Gasparino cited banking sources saying Twitter was up for sale. He called a potential bidding war for Twitter between Facebook (NASDAQ: FB)and Google (NASDAQ: GOOG) as a "trainwreck."
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