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Shares of Twitter Inc. are surging Monday after CNBC reported that Chief Executive Jack Dorsey plans to step down from the top post at the social-media company.
Twitter shares
TWTR,
were up 5% in Monday morning trading. Shares of Square Inc.
SQ,
rose as much as 4.0% but gave back those gains and were recently off 0.6%. Dorsey also serves as the CEO of Square.
The CNBC report cited unnamed sources. Twitter didn’t immediately respond to MarketWatch’s request for comment.
Twitter shares have declined 21.7% over the past three months as the S&P 500
SPX,
has risen 2.8%. The stock closed at a 10-month low on Friday.
