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.

Twitter's stock surges 5.8% after report of takeover bid http://t.co/egeFU5jDJ9

— MarketWatch (@MarketWatch) July 14, 2015

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.

Smartest men in the room…

UPDATE:

https://twitter.com/SteveKopack/status/620989373597790208