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: Twitter stock gains after report says CEO Jack Dorsey plans to step down from top post


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

were up 5% in Monday morning trading. Shares of Square Inc.

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

has risen 2.8%. The stock closed at a 10-month low on Friday.

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