Shares of Twitter Inc. rocketed 17% in active premarket trade Friday, after a report that the social network getting close to a buyout deal. The stock was changing hands at $21.73, which puts it on track to open at the highest level since Jan. 6. The stock reversed earlier losses of nearly 5% following a downgrade at RBC Capital, after CNBC reported that Twitter was moving closer to a sale of the company. With 7.3 million shares traded, the stock was the most active before the open. The stock had tumbled 19% year to date through Thursday, while the S&P 500 had gained 6.5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.