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May 13, 2023
Take a look at the following communication_services stocks that showed higher volumes than usual: Shaw Communications Inc., PT Telkom Indonesia, Taboola.com Ltd..
A recap of yesterday's session: Leading equity indices in the US declined as Nasdaq shed 0.35% and closed at 12,300. S&P 500 closed at 4,124, a 0.16% 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.
Shaw Communications | 473% above rolling average
Shaw Communications Inc. outpaced its average daily trading volume (1.34 million) with 6.35 million shares traded yesterday.
6 months ago, the Canadian ISP fell to a low of $24 but has since recovered 24.68%. The stock has been trending positively for about 2 months. Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58.
Shaw Communications discloses 7.2 cents per share dividend to be paid on Thursday, March 30th
Telkom Indonesia | 305% higher than rolling average
Telkom Indonesia dropped to $26.87, its lowest point in 6 weeks. It later recovered 16 cents and closed at $27.03. Telkom Indonesia's bearish run has lasted 12 days so far (-$1.62). More of the same from yesterday's session: after ending Thursday at $27.69, PT Telkom dropped to $26.87 early in yesterday's session and closed at $27.03. In total, it lost 2.38%.
Trading volume peaked at 651,366 shares yesterday, thereby obliterating the daily average of 213,432 by 305%.
Taboola | 274% higher than rolling average
Trading volume peaked at 3 million shares yesterday, thereby obliterating the daily average of 1.11 million by 274%.
3 months ago the leading discovery and native advertising platform reached a significant high of $4.3 but has consequently lost 31.63% since then. Taboola has posted further gains as part of a 4 day trend that has already seen the stock gain 66 cents.
— Average trading volume refers to a 21-day rolling average.
