Abiomed, Signify Health, Inc., Amedisys, Inc. and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Nasdaq lost 1.16% and ended the session at 13,336. After dropping 0.45%, S&P 500 closed at 4,328.82.
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 healthcare stocks reached high volumes. Here is an update.
Abiomed | 506% above rolling average
With 15.70 million shares traded yesterday, Abiomed beat its daily average by 506% to cap off a frenetic trading day.
The stock has been trending positively for about 5 months.
Signify Health | 261% higher than rolling average
Yesterday's trading volume was 9.63 million shares (surpassing the daily average by 261%).
Signify Health hit a significant low of $13.8 around 11 months ago, but has since recovered 120.8%. The stock has been trending positively for about 11 months. Following a month of flat trade,
Amedisys | 200% higher than rolling average
Trading volume was 1.50 million shares yesterday — beating the daily average by a mammoth 200%.
Amedisys hit a significant low of $69.79 around 3 months ago, but has since recovered 30.69%. The stock has been trending positively for about 3 months. While Amedisys is on a 19 day bullish trend,
— Average trading volume refers to a 21-day rolling average.