Market Overview

Twitter Rallies Off Takeover Speculation...Again

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Twitter Inc (NYSE: TWTR) shares are trading higher by $1.72 at $18.52. Once again, the catalyst for the rally is renewed takeover speculation. This time it is rumored that Marc Andreessen and Silver Lake Partners have considered making a bid for the company.

The rumor instigated a higher open and its brief retreat off the open found support well ahead of the top of Friday's range ($17.07) at $17.54. The ensuing rally has taken the issue to $18.77 and is far off that level.

See Also: Twitter Up For Sale? Shares Spike Amid Report Marc Andreessen, Silver Lake 'Have Considered Some Sort Of Deal'

That marks the highest level for the issue since it peaked on January 20 at $19.04. The issue put in another high in that area on January 14, when its rally ended at $19.16.

It has not closed at $19 or above since January 14, when it ended the session right at $19.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

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