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June 26, 2023
Kaltura, Inc., Terminix Global Holdings, Inc., Regal Beloit Corporation and others reached higher-than-usual trading volumes.
Friday's session summary: Leading equity indices in the US declined as S&P 500 slipped 0.77% and closed at 4,348.33. After dropping 1%, Nasdaq closed at 13,500.
Why trading volume matters?
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
Though trading was down Friday, some stocks reached high volumes. Here is an update.
Kaltura | 1,017% above rolling average
The NY-based software company has recovered 37.34% since descending to a significant low of $1.58 around a month ago. The NY-based software company's market cap currently stands at $291.92 million with an average daily volume of 906,094 shares.
Trading volume was 9.22 million shares Friday — beating the daily average by a mammoth 1,017%.
Terminix | 482% above rolling average
During Friday's session, Terminix toiled and struggled for upward momentum before closing at $37.87. By the close, the the pest control company suffered a 19 cents or 0.5% loss.
Trading volume peaked at 25.88 million shares Friday, thereby obliterating the daily average of 5.37 million by 482%.
Regal Rexnord | 939% above rolling average
Regal Rexnord outpaced its average daily trading volume (391,743) with 3.68 million shares traded Friday.
9 months ago, the power transmission component maker fell to a low of $137.7 but has since recovered 51.02%.
— Average trading volume refers to a 21-day rolling average.
