Twitter's stock price surged Monday after an SEC filing said co-founder and interim CEO Jack Dorsey had purchased 31,627 shares. The stock was priced at $27.67, according to the filing, making the purchase price of $875,021.
Dorsey made the purchase Friday. In a tweet that linked to the filing, Dorsey said early Monday he is investing in Twitter's future:
Shares of the social media company were up 7 percent in afternoon trading after some bullish commentary by traders on CNBC's "Halftime Report."
Notably, Dorsey is just one of several Twitter insiders to buy the stock in recent days. That could signal the board and executive team are making a bet that this is the bottom for the stock. According to a separate SEC filing, board member Peter Currie purchased 9,200 shares on Friday.