Shares of Twitter briefly traded as much as 3 percent higher Thursday morning amid further speculation about the future of the struggling social media company.
The stock later pared some of those gains and ended the day 1.5 percent higher.
The company is attracting activists and all eyes are on Twitter's board meeting, scheduled for next Thursday, CNBC has learned. Topics of discussion at the meeting will include the growth rate of the company, and future options if growth continues to be anemic.
Shares of Twitter closed 4.5 percent higher Wednesday after co-founder Ev Williams said on Bloomberg TV that the company must "consider the right options" amid acquisition speculation. He also said the company is "in a strong position now."
The options market reflected that speculation, with the ratio of puts to calls near an all-time low, according to a Thursday note from Jim Strugger, managing director, derivatives strategist at MKM Partners. Shares were last up about 1 percent. (A call is the right to buy a stock for a given price within a given period of time, while a put is the right to sell a stock for a given price within a given period of time.)
Though Williams' comments echo wider sentiment, a contest for control of Twitter could take at least until July of next year to unfold, said Robert Peck, managing director and internet equity analyst at SunTrust Robinson Humphrey.
"We don't think there's any takeout possibilities really in 2016," Peck told CNBC's "Fast Money: Halftime Report" on Thursday.