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Does the LinkedIn sale put Twitter in play? Yes, it does.

Jack Dorsey at the 2016 Code Conference.
Asa Mathat | Vox Media
Jack Dorsey at the 2016 Code Conference.

LinkedIn just gave Twitter investors something they haven't felt in a long time: Hope.

News that LinkedIn sold to Microsoft on Monday for more than $26 billion has pushed Twitter stock up more than 8 percent in early morning trading. The reason? If Microsoft is willing to break the bank for LinkedIn, maybe there's a savior out there for Twitter, too!

There have long been talks that a big tech company like Google or Facebook or even Microsoft might swoop in for Twitter. Now that feels almost inevitable, especially given that Twitter's stock is down nearly 60 percent from where it was a year ago when then-CEO Dick Costolo announced he was stepping down.

Simply put, that means the LinkedIn acquisition has done more to boost Twitter's value than CEO Jack Dorsey. Of course, the stock move is typical investor arbitrage, but if Twitter's shares stay up, it's a clear signal investors would rather see it in someone else's hands.

Who might save Twitter? It could still be Google, or perhaps a bigger media player like Comcast*. But we talk with smart people close to Twitter often, and the growing feeling is that Twitter's best option is to finally sell to someone with deep pockets.

With LinkedIn now off the market, those deep pockets may come take a harder look.

*Comcast is a minority investor in Vox Media, which publishes Recode.

By Kurt Wagner, Re/code.net.

CNBC's parent NBCUniversal is an investor in Recode's parent Vox, and the companies have a content-sharing arrangement.