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Twitter (TWTR) Stock Pops, Former Microsoft CEO Ballmer Takes 4% Stake

NEW YORK (TheStreet) -- Twitter (TWTR - Get Report) shares are soaring 5.03% $31.18 on Friday following the news that former Microsoft (MSFT) CEO Steve Ballmer took a 4% stake in the company, valued at around $800 million, Bloomberg reports.

In his Tweet, Balmer said "Good job @twitter, @twittermoments innovation, @jack CEO, leaner, more focused. Glad I bought 4% past few months."

Ballmer's investment is bigger than CEO Jack Dorsey's, Bloomberg said.

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This also comes after Twitter's announcement that it would slash 8% of its global workforce.

Looking ahead, Ballmer may find interest in being part of Twitter's board, Bloomberg added.

Separately, TheStreet Ratings team rates TWITTER INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

We rate TWITTER INC (TWTR) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any...