Why Twitter Shares Continue To Trade Higher Today

Twitter Inc TWTR shares are trading higher Monday following several reports indicating the company is getting closer to making a deal with Tesla Inc TSLA CEO Elon Musk.

Earlier this month, Musk offered to buy Twitter for $54.20 per share. Twitter initially put measures in place to fight back against a potential hostile takeover, but the social media company has reportedly become more receptive to an offer after Musk revealed that he secured financing for the bid. Some reports suggest the deal could close as soon as Monday.

Twitter's board reportedly negotiated with Musk on Sunday. Those negotiations spilled into the early hours of Monday morning, according to a New York Times report, citing people who spoke on the condition of anonymity. Discussions reportedly covered additional steps and fees that could come into play if a deal were signed and then fell apart. 

See Also: Analyst Sees 'Beginning Of End' Of Twitter As Public Company Amid Reports That Sale To Elon Musk Could Happen Today

TWTR 52-Week Range: $31.30 - $73.34

According to data from Benzinga Pro, the stock was up 4.84% at $51.30 at press time.

Photo: PhotoMIX-Company from Pixabay.