NEW YORK (TheStreet) -- Twitter (TWTR) shares continued their monumental drop today, falling -5% to $30.27 Wednesday on heavy trading. Investors have traded 30.3 million shares already today, more than double the social media website's three month average daily volume.
The drop follows up yesterdays -18% decline after the company's employee lockup period ended on Tuesday. Twitter employees had been barred from selling their shares before yesterday's expiration date, seemingly many of them took advantage of that new freedom.
The stock sell off had been anticipated by analysts though some of the company's largest stakeholders and the company founders have stated that they will not sell their shares.