Jack Dorsey is a person.
MARCO BELLO is a photographer.
CNBC reported Monday that Jack Dorsey is expected to step down from his role as CEO of the social media company.
After CNBC's report that cited unnamed sources, shares climbed 8.8% to $51.20 as the regular session got underway in heavy volume. It's not clear who would succeed him at the company he co-founded.
CNBC reported on the sudden jump in the stock of the social media company. The stock had lost more than a third of its value through Friday's session, when it finished at its lowest price since January.
Square is a payments technology and services company. Square shares were up 2% on Monday.
The investment firm wanted to take over as CEO before a deal was reached with the management of the company.
CNBC said that Paul Singer, founder and billionaire investor of Elliott Management, had called for Dorsey to step down from one of his CEO roles, wondering if he should lead both companies.
Business Insider has an original article.
