Apple Stock Surges After Billionaire Carl Icahn’s Tweets

Source: Susanna Kim / ABC News

Is the brave, new world of technology one in which market-moving news will increasingly migrate to social media such as Twitter?

Shares of Apple Inc. (NASDAQ: AAPL) are a good example. Apple shot up 5 percent yesterday and continued to surge today after billionaire Carl Icahn tweeted about his large stake in Apple and his chat with Apple’s CEO Tim Cook about the company’s share buyback program.

For the first time since January, Apple stock crossed $500 on Wednesday mid-day. Apple’s shares traded around $498.50 at the close of New York trading on Wednesday, up 1.82 percent.

“I don’t know that market-moving information breaking on Twitter will become ‘the norm,’ but it has certainly become important,” said Henry Blodget, CEO and editor-in-chief of Business Insider.

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