How a fake Bloomberg story led to a spike in Twitter shares

On Tuesday morning, a story appearing to be published by the Bloomberg News website said that Twitter had received a takeover offer worth $31 billion. Twitter’s shares went up as much as 7 percent from their closing price on Monday, but Twitter users and analysts soon began poking holes in the fake story, such as the fact that former Twitter chief Dick Costolo’s name was spelled wrong. The story appeared under the URL, which is not used by the organization and was anonymously registered on Friday.