Activist investors are starting to look at Twitter, and the stock is up

Twitter's stock has climbed for the second consecutive day as speculation swirls that the company is becoming a target for activist investors or a potential buyer.

Twitter's board will meet on September 8 to discuss the company's future growth and "what the options will be if that growth rate continues to be anemic," CNBC's David Faber said on Thursday morning.

Twitter shares are up nearly 6% in the past two days, following comments by Twitter cofounder and board member Evan Williams.

In an interview with Bloomberg on Tuesday, Williams said that the board has to "consider the right options" when it comes to outside interest in acquiring the company. Twitter watchers like Vanity Fair's Nick Bilton have speculated that Twitter has become a prime acquisition target for a company like Google.

CNBC's Faber noted that the comments by Williams marked a change in tone, and that activists are taking a look at the struggling internet company and in some cases, even starting to build small positions.

"That board is well aware of the threat of an activist investor," said Faber.

You can watch Faber's full CBNC segment on Twitter with Jim Cramer below: