Twitter Inc TWTR's trading volume today more than tripled today as investors push the company's stock to new highs.
Twitter Inc (TWTR - Get Report) 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 - Get Report)’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 - Get Report), Yelp Inc (YELP - Get Report) and LinkedIn Corp (LNKD - Get Report). None of them achieved the same extraordinary gains Twitter has during their first couple of months on their respective stock exchanges.