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March 19, 2023
CenturyLink, Inc. d/b/a Lumen T, Omnicom Group Inc, Interpublic Group of Companies Inc had the highest volumes Friday.
A recap of Friday's session: Leading equity indices in the US declined as Dow Jones shed 1.19% and closed at 31,862. S&P 500 closed at 3,916.64, a 1.1% change.
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 communication_services stocks reached high volumes. Here is an update.
Lumen | 593% higher than rolling average
Friday's trading volume was 212.12 million shares (surpassing the daily average by 593%).
The Fortune 500 telecoms company traded as high as $12.5 before shedding 72.46% lower over the past six months. Trending downwards for around a month. Over the last 6 days, Lumen Technologies has fallen 24.85%.
Omnicom Group | 488% higher than rolling average
Omnicom Group went down to $86.17 (1.31%), adding to its six days of losses. The global media company reached a significant high of $93.72 around 30 days ago but has lost 6.84% since then. On a negative trend for around 28 days. Omnicom Group's market cap is currently $17.47 billion with an average daily trading volume of 1.84 million shares.
Omnicom Group outpaced its average daily trading volume (1.84 million) with 8.96 million shares traded Friday.
Interpublic Group | 320% above rolling average
Having fallen $5.28 in 25 days, More of the same from Friday's session: during Friday's session, Interpublic Group toiled and struggled for upward momentum before closing at $33.73. By the close, the the US advertising company suffered a 32 cents or 0.94% loss.
With 9.53 million shares traded Friday, Interpublic Group beat its daily average by 320% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.
