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Trading in shares of Twitter was halted after the stock spiked on reports that Elon Musk would proceed with his $44 billion deal to buy the company after months of legal battles.
For a second time, Musk offered to buy the San Francisco company at $54.20. Twitter's stock jumped nearly 13% to $47.93 before trading stopped on the New York Stock Exchange, which listed "news pending" as the reason for the halt. Trading halts are how stock exchanges give investors a forced timeout when trading for a stock gets too chaotic, or when a company is about to offer market-moving news.
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