Jack Dorsey buys $9.5 million in Twitter stock while continuing to sell Square

Twitter Inc. stock jumped about 1% in late trading Friday after Chief Executive and co-founder Jack Dorsey tweeted that he had purchased more than 500,000 shares of the company.

Just bought another 574,002 shares of $TWTR (bringing my 2017 purchases to 1 million shares) https://t.co/OrLJ0Ja3J1

— jack (@jack) April 28, 2017

Dorsey’s tweet was a reply to one he sent in February, when the Twitter TWTR, -0.78% CEO posted a link to an SEC filing that showed he had purchased more than 400,000 shares, spending about $7 million. An SEC filing Friday afternoon showed that Dorsey paid $16.62 a share for the latest shares, for a total purchase price of slightly more than $9.5 million.

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