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Twitter soars 9% after report says CEO Jack Dorsey is expected to step down

Twitter soars 9% after report says CEO Jack Dorsey is expected to step down
Jack Dorsey.MARCO BELLO/AFP via Getty Images


Twitter stock jumped Monday after CNBC reported CEO Jack Dorsey was expected to step down.A 




CNBC cited sources in its report about Dorsey, who co-founded the social media platform in 2006.




It's unclear who would take Dorsey's place at Twitter if he leaves the top post.A 


Twitter stock sharply jumped Monday following a CNBC report that Jack Dorsey is expected to step down from his role as CEO of the social media company.A Before trading was halted for pending news, shares climbed 8.8% to $51.20 as the regular session got underway in already heavy volume after CNBC's report that cited unnamed sources. It's unclear who would succeed Dorsey at the company he co-founded in 2006 and that made him a billionaire.A A Twitter stock suddenly jumped by 11% during premarket trade after the publication of CNBC's report. The stock had lost 13% year to date through Friday's session when it finished at its lowest price since mid-January.A Dorsey also serves as CEO of Square, a payments technology and services company. Square shares pared gains Monday and were up 0.2%.A 
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