A story posted to a fake Bloomberg site caused Twitter stock to rise as much as 8.5%.

Fake Bloomberg Site

The fake report appeared on the website bloomberg.market, which is a virtual clone of the real bloomberg.com. The false report, however stated that Twitter had received a $31 billion takeover bid.

As Mashable notes, Twitter’s current market cap is below $25 billion, which made the $31 billion figure “too good to be true.” Enthusiastic traders and social media readers who were fooled by the fake website’s apparance shared the story before many realized it was completely bogus.

The real Bloomberg released a statement which said “…the Twitter story is a fake.” It also reitereated that “…the site is bogus and not affiliated with Bloomberg.”

Twitter popping 5%, following this report $TWTR http://t.co/UPpU9HAmtC

— Carl Quintanilla (@carlquintanilla) July 14, 2015

The fake Bloomberg site was only registered days before the fake story was released. It isn’t yet clear who is responsible for the site or the fake report, nor has the SEC weighed in on any possible investigation.