Fake Bloomberg Story About Twitter Buyout Sends Stock Soaring
Hair-trigger traders had shares in the social media platform plunging after the hoax report was exposed.
A fake report attributed to Bloomberg LP claiming Twitter received a $31 billion buyout offer on Tuesday had shares in the social media platform jumping 8 percent.
Twitter stock then quickly fell back down to earth after the bizarre hoax was exposed to investors. The fake takeover report appeared on a website called Bloomberg.market, rather than the legitimate Bloomberg.com site.
Bloomberg LP spokesman Ty Trippet took to Twitter to expose the phony report, as he wrote: "Pls note - that $TWTR story everyone talking about is fake." Bloomberg tech reporter Sarah Frier added in her own tweet that the hoax report had drawn an investigation by regulatory authorities.
"The SEC is looking into the fake Twitter story posted on the fake Bloomberg website," Frier tweeted.