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May 09, 2023
The following communication_services stocks (Shaw Communications Inc. & Pearson plc) are reaching higher-than-usual volumes.
A short overview of the current market situation: The leading indices are falling — Nasdaq trades at 12,200 after losing 0.55%. S&P 500 drawing back 0.41% to 4,121.
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 are currently at high volumes. Here is an update.
Shaw Communications | 6.35 million traded volume so far today exceeding the daily average by 473%
Shaw Communications Inc. hit a significant low of $24 around 6 months ago, but has since recovered 24.68%. The stock has been trending positively for about 2 months. Shaw Communications has a market cap of $14.94 billion with an average daily trading volume of 1.34 million shares.
A blockbuster trading session for Shaw Communications, eclipsing its average daily volume by 473% and recording 6.35 million.
Pearson Plc | 501,978 traded volume so far today exceeding the daily average by 111%
The British publishing and education company is now trading 14.82% below the significant high of $12 it set around 5 months ago. The company's market cap currently stands at $7.98 billion with an average daily volume of 452,003 shares.
A hectic day for Pearson Plc, surpassing its average daily volume by 111% to reach 501,978.
— Average trading volume refers to a 21-day rolling average.
