Shares in Twitter were lifted higher by the surprise news that Microsoft is buying LinkedIn in a deal worth $26bn (£18.5bn), rocketing more than eight per cent in early trading in New York.
The troubled social network has been in the doldrums in recent months despite the best efforts of newly returned chief executive Jack Dorsey to push the platform forward, and shares plummeted to an all-time low of $13.90 in March.
Speculation has been rife that Twitter is heading towards some sort of takeover and today's deal has apparently renewed hopes of such a deal for the social network.
"I’m afraid the more time that passes without any true innovations, the more unavoidable an acquisition becomes and the lower the price Twitter is likely to fetch" said Disruptive Tech Research analyst Lou Basenese before today's deal.
Twitter's had more problems than LinkedIn. It's much more difficult to turnaround," said Richard Holway, chairman of TechMarketView. "Someone will buy them."