Twitter Inc (TWTR)

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Twitter Shares Gain Despite Word a Clubhouse Deal is Off
By: Dhirendra Tripathi | April 8, 2021

Investing.com – Twitter (NYSE:TWTR) shares were holding on to their gains in Thursday’s trade, despite reports that the social media platform was no longer in talks to buy Clubhouse, a popular invitation-only audio-chat app.

Bloomberg earlier reported the two companies had discussed a $4 billion deal but had since called off the talks.

Shares of Twitter rose 2.5%.

Twitter recently launched an audio offering, Spaces, in beta-stage.

A Clubhouse buyout would have complemented Spaces. Clubhouse has caught the fancy of those in Hollywood, intellectuals, high-profile executives and investors who come together on the platform to discuss issues of common interest.

Twitter shares have recently gained following a disclosure by Cathie Wood’s Ark Invest that it had topped its holding of the micro blogging site company.

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