Twitter's CEO is out and now the stock is exploding higher

Twitter’s stock surged as much as 13% in after hours trading on Thursday after news broke that CEO Dick Costolo is stepping down.

The stock is flat year-to-date, and up 7% over the past 12 months.

Twitter’s stock tanked by more than 20% on April 28, when the company’s quarterly earnings leaked.

More to come…

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