Twitter shares spike on fake Bloomberg story that it's selling for $31 billion

Twitter shares are spiking on what appears to be a fake report that the company has gotten an offer to be taken over for $US31 billion.

A report on a website that is made to look like Bloomberg.com claims that Twitter has gotten an offer to be taken over for $US31 billion. Bloomberg spokesman Ty Trippet subsequently said the Twitter story is fake.

Following circulation of this article, which we first saw at The Fly, shares of Twitter spiked as much as 5%.

Shares of the company quickly gave up most of those gains in morning trade on Tuesday.

Here’s the wild ride in the stock.

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