Twitter Stock Spikes After Steve Ballmer's Investment in the Company

Twitter (NYSE:TWTR) stock has increased, following the news that Steve Ballmer purchased a 4% stake in the company.
According to Motherboard:

Former Microsoft executive Steve Ballmer tweeted on Thursday night from an unverified account praising Twitter’s “innovation” and mentioning he had recently taken stake in the company. The 4 percent purchase, which he confirmed to Bloomberg, makes him one of the company’s biggest shareholders, now investing more in the company CEO Jack Dorsey, who reportedly owns 3.2 percent of Twitter’s shares.
As word of Ballmer’s investment got out, Twitter’s stock skyrocketed. Fortune’s Mathew Ingram noted at that at one point it had gained about $700 million—nearly as much as the $800 million investment itself—and it’s only grown from there, with Twitter’s market cap currently up more than $900 million over yesterday. Overall, Ballmer’s vote of confidence in Twitter and its new CEO, cofounder Jack Dorsey, fueled the jump, but it’s not the first time a single tweet has created a big shift in the stock market.

Click here to read the full article on Motherboard.