Latest Round Of Twitter Buyout Rumors Fizzle As Fast As They Come
SAN FRANCISCO (CBS) - Twitter has been one of the more speculated on takeover targets over the past several weeks, with many predicting that Google will eventually come calling as it looks to beef up its social media capabilities.
But that talk spiked Tuesday, according to Barrons, on rumors that Twitter (TWTR) was in the process of being acquired. As has happened many times already, that talk is cooling off, and so is Twitter's stock.
Twitter has been under pressure from shareholders to improve its advertising results, which is a direct correlation to the micro-blogger's ability to keep users logged in for longer periods of time.
That pressure led to CEO Dick Costolo's resignation, with co-founder Jack Dorsey taking over on an interim basis starting Wednesday.