| 
May 04, 2023
Following yesterday's heightened trading volumes, Fiverr International Ltd., Shaw Communications Inc., LegalZoom.com, Inc. were the standout stocks.
A recap of yesterday's session: Leading equity indices in the US declined as Dow Jones was down 0.8% before closing the session at 33,400. S&P 500 closed at 4,090.75, a 0.7% 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 yesterday, some communication_services stocks reached high volumes. Here is an update.
Fiverr International | 586% higher than rolling average
Yesterday's trading volume peaked at 4.12 million shares, thereby blitzing the daily average of 703,438 by 586%.
The freelancer enabler is now trading 34.19% below its 3-month high of $58.13. Fiverr International has lost 23.55% over the last 4 days.
Shaw Communications | 473% above rolling average
Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58. Yesterday continued on the same track for Shaw Communications — Shaw Communications rises 0.9% to close at $30.18 yesterday.
Shaw Communications had a compelling day yesterday, with 6.35 million shares traded helping the company surpass its average daily volume by 473%.
LegalZoom | 436% above rolling average
Trading volume peaked at 3.25 million shares yesterday, thereby obliterating the daily average of 747,357 by 436%.
Since its 52-week high of $15.45, the online legal technology company has lost 45.08% over the last twelve months. LegalZoom's bearish run has lasted 3 days so far (-96 cents).
LegalZoom is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 0.06 and the consensus revenue estimate is $155.28 million.
— Average trading volume refers to a 21-day rolling average.
