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June 22, 2023
CoStar Group, Inc., Equinix, SBA Communications Corp led the pack during yesterday's heightened trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Nasdaq slipped 1.21% and closed at 13,500. S&P 500 closed at 4,365.69, a 0.52% 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 real_estate stocks reached high volumes. Here is an update.
CoStar | 216% higher than rolling average
Yesterday's trading volume peaked at 5.20 million shares, thereby blitzing the daily average of 2.41 million by 216%.
The commercial property company is now trading 2.59% below the significant high of $87.58 it set around a day ago. The stock has been trending positively for about 2 months. CoStar has posted further gains as part of a 10 day trend that has already seen the stock gain $5.66.
Equinix | 155% higher than rolling average
Yesterday's trading volume was 892,968 shares (surpassing the daily average by 155%).
Having set a significant low of $505.39 8 months ago, the internet connection and data center specialist is trading 54.38% higher. The stock has been trending positively for about 2 months. Though in the midst of a 10 day uptrend, gaining a total of 3.93%, ($41.29),
Equinix discloses $3.41 per share dividend to be paid on Wednesday, June 21st
SBA Communications | 155% above rolling average
Trading volume was 1.22 million shares yesterday — beating the daily average by a mammoth 155%.
The wireless infrastructure REIT has fallen back around 36.76% over the past 10 months, from a notable high of $355.13. On a negative trend for around 4 months. SBA Communications's bearish run has lasted 4 days so far (-$9.35).
SBA Communications discloses 85 cents per share dividend to be paid on Wednesday, June 21st
— Average trading volume refers to a 21-day rolling average.
