Twitter Shares were Soaring on Salesforce Takeover Rumors

Shares of Twitter were moving over 7% in early afternoon trading on Friday as traders learned that there could be a takeover offer soon for the company.

Shares spiked after a Bloomberg report indicated that Salesforce CRM, a customer-relations software giant is considering a bid for the social media company.

It has been years of rumors and reports that Salesforce has wanted to takeover the company.

According to Citron Research, known for its short-selling, another potential bidder could also be Tencent TCEHY, a Chinese tech giant. Citron is long on Twitter.

Citron tweeted, “Citron receives many emails about we might buying in this market. Have been long $TWTR and agree with Hedgeye and Greenlight that 2018 is the year for $TWTR target $35 Think Tencent buys….now go bash Citron on $TWTR.”

Disclaimer: We have no position in Twitter Inc. (NYSE: TWTR) nor salesforce.com, inc. (NYSE: CRM) and have not been compensated for this article.