Pranksters $31 Billion Twitter Stunt

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Twitter’s share price spiked 5.8% this afternoon following rumours that the social media company had received an offer to be bought out for $31 billion.

Shares crashed back down within minutes once traders realised they had been duped by a website called Bloomberg.market that had been made to look exactly like Bloomberg.com.

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Quote of the Day

Dr Alexander Kogan, the app developer who originally harvested the Facebook data, said…

“I think what Cambridge Analytica has tried to sell is magic and made claims this is incredibly accurate and it tells you everything there is to tell about you. But I think the reality is it’s not that. If you sit down and you really work through the statistics and you think what does a correlation of point three means, those claims quickly fall apart. And that’s something any person with a statistical background can go and do.”

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