Shares of Twitter are surging on a report that co-founder Jack Dorsey will step down as the company’s chief executive.
Twitter’s stock, which has consistently underperformed the market, jumped more than 10 per cent at the opening bell Monday.
CNBC first reported that Dorsey may step down soon, citing anonymous sources.
Twitter Inc. did not immediately respond to a request for comment from The Associated Press early Monday.
Dorsey is also the top executive at Square, a financial payments company that he founded, and some big investors have openly questioned whether he can be effective leading both.
Benchmark S&P 500 index rises 1.8 per cent
Spot gold was trading at $1,785.82 per ounce at 9.20am UAE time
Spot gold was trading at $1,771.62 per ounce, down by 0.2 per cent at 9.15am
Analysts and forex experts caution that the political instability will continue to weigh on the rupee's future and may slow the recovery pace in coming days