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March 16, 2023
Pearson plc, Chunghwa Telecom Co., Ltd., PLAYSTUDIOS, Inc. had the highest volumes yesterday.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Dow Jones was down 0.87% before closing the session at 31,875. S&P 500 shed 0.7% and closed at 3,892.
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 yesterday, some communication_services stocks reached high volumes. Here is an update.
Pearson Plc | 282% above rolling average
Pearson plc had a compelling day yesterday, with 1.14 million shares traded helping the company surpass its average daily volume by 282%.
Having soared to a high of $12 approximately 3 months ago, the British publishing and education company is now trading 14.74% lower. Pointing downwards for around a month. Over the last 9 days, Pearson Plc has fallen 9.03%.
Chunghwa Telecom | 235% above rolling average
Chunghwa Telecom hit a significant low of $33.05 around 4 months ago, but has since recovered 17.64%. The stock has been trending positively for about 4 months. Chunghwa Telecom's market cap is currently $29.76 billion with an average daily trading volume of 113,737 shares.
With 266,990 shares traded yesterday, Chunghwa Telecom beat its daily average by 235% to cap off a frenetic trading day.
Playstudios | 200% above rolling average
Trading volume peaked at 477,066 shares yesterday, thereby obliterating the daily average of 240,040 by 200%.
Having set a significant high of $6.48 9 months ago, the free-to-play casual game developer is trading 41.2% lower.
— Average trading volume refers to a 21-day rolling average.
