This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Twitter Inc (TWTR) Trade Volume Skyrockets, Drudge Predicts Big Crash

Twitter Inc TWTR's trading volume today more than tripled today as investors push the company's stock to new highs.

Twitter Inc (TWTR) shares are now worth nearly triple what they were at their initial public offering last month, and their price just keeps going up. Shares surged nearly 5% today, hitting yet another new high, and volume went through the roof. The company’s daily average stock volume is a little over 15.2 million shares, but today, more than 61 million shares of Twitter have traded hat tip @optionmonster. And the trading day isn’t over yet.

Twitter share volume soars

By the time you read this, that 61 million number could be greatly under what you see if you check because it looks like shares of Twitter just keep changing hands over and over. Just check out Twitter Inc (TWTR)’s on Google Finance and hit refresh a few times if the trading day is still open. This number is still popping.

According to CNBC, Twitter’s $40 billion market capitalization makes it more valuable than much of the S&P 500. The Wall Street Journal reports that Twitter will be one of the top 100 companies within the index. It is even outpacing other social online companies, including Facebook Inc (FB), Yelp Inc (YELP) and LinkedIn Corp (LNKD). None of them achieved the same extraordinary gains Twitter has during their first couple of months on their respective stock exchanges.

Matt Drudge sees “horrific” crash ahead for Twitter

Because of the dramatic exuberance over Twitter Inc (TWTR), Matt Drudge of the Drudge Report tweeted that he sees a major crash ahead for the micro-blogging site’s stock. According to Drudge, the upcoming crash of Twitter shares will be “horrific.” He questions how company like Twitter, which has yet to turn a profit, can hit a stock value of $41 billion.

Business Insider‘s Jay Yaro suggests some ideas about why Twitter shares have performed so well so far this year. He notes that so far this month, the site’s shares have risen approximately 80%. Just in the past week, they have risen 33%, and he says “no one really knows why.”

Why might Twitter be doing so well today?

Yarow suggests some possibilities, including a short squeeze, major funds buying Twitter Inc (TWTR) just so it’s in their portfolios, investors “suddenly” seeing mobile ads as being “huge,” or “something else.” Today in particular, Twitter shares may be affected by a report which indicates dramatic increases in the company’s advertising share. The number of advertisers using Sponsored Tweets rose to 52% this year, according to a report from IZEA.

-By Michelle Jones

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs