Twitter Stock Soaring On SoftBank Takeover Chatter

Shares of Twitter (NYSE:TWTR) soared over 8% in late afternoon trading thanks to renewed buyout chatter across the internet. The latest potential suitor for the struggling social media site is none other than Japanese telecom giant SoftBank (OTC:SFTBY) .

For now, the chatter remains nothing more than unsubstantiated rumors, but that’s seemingly all it takes to send Twitter investors into a frenzy these days. Ironically, the latest news on Twitter’s potential sale always seems to break on Twitter itself:

Talk is Softbank for $TWTR

— dasan (@dasan) October 21, 2016

$TWTR - *Some Traders Attributing Spike Higher in Twitter Shares to Unconfirmed Report of Softbank Interest

— Quoth the Raven (@QTRResearch) October 21, 2016

Chatter then Softbank may be interested in $TWTR

— Open Outcrier (@OpenOutcrier) October 21, 2016

Here we go again? Another Twitter M&A rumor. For what it's worth, traders citing SoftBank this time. $TWTR up 5%. Be careful everybody!

— Paul R. La Monica (@LaMonicaBuzz) October 21, 2016

$TWTR rumor has legs. WSJ reported that Saudis are starting a $100bn tech fund with SoftBank AND Prince Al-Waleed already has a huge stake.

— O.B. (@JeffCNYC) October 21, 2016

SoftBank is headquartered in Tokyo and currently has operations in broadband, fixed-line telecommunications, e-commerce, internet and technology services, marketing, and semiconductor design, among other ventures.

The company joins a long list of businesses that have been linked to Twitter over the past few months. Over the last week or two, Twitter takeover talks have cooled off after reports suggested that Disney (NYSE:DIS) , Salesforce (NYSE:CRM) , and Alphabet (NASDAQ:GOOGL) were unlikely to pursue bids.

What do you think about SoftBank as a potential Twitter buyer? Join the conversation with ZacksResearch on StockTwits and Twitter.

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