Live Nation Entertainment Inc, Vodafone Group Plc, LegalZoom.com, Inc. and others reached higher-than-usual trading volumes.

A recap of Friday's session: Leading equity indices in the US declined as Nasdaq slipped 1.69% and closed at 11,400. After dropping 1.02%, Dow Jones closed at 32,817.

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 Friday, some communication_services stocks reached high volumes. Here is an update.

Live Nation Entertainment | 354% above rolling average

With 7.33 million shares traded Friday, Live Nation Entertainment Inc beat its daily average by 354% to cap off a frenetic trading day.

Live Nation Entertainment has shed $57.26 points and is languishing 42.81% lower over the past year, leaving its yearly highs around $126.04 in the rear-view mirror. Live Nation Entertainment's bearish run has lasted 7 days so far (-$2.48).

Live Nation Entertainment reported ambiguous earnings results Thursday, with revenue at $4.29 billion, compared to a consensus of $3.58 billion. Since the release of its earnings report, Live Nation Entertainment lost 8.83%.

Vodafone Group | 189% above rolling average

Vodafone Group's bearish run has lasted 7 days so far (-53 cents). Friday's session continued the recent downtrend: pronounced bearish market sentiment ensured that the iconic telecoms provider made a notable 1.68% loss Friday, declining 20 cents and ultimately closing at $11.68.

Vodafone Group outpaced its average daily trading volume (9.41 million) with 17.77 million shares traded Friday.

LegalZoom | 180% higher than rolling average

LegalZoom outpaced its average daily trading volume (796,367) with 1.43 million shares traded Friday.

The online legal technology company has fallen back around 48.33% from the significant high of $15.91 set 11 months ago. LegalZoom has been losing ground for 7 days, shedding a total of 6.69% of its value.

LegalZoom released its quarterly earnings Thursday, beating analysts estimates. The company reported earnings of 0.03 per share on revenue of $146.63 million, topping estimates of 0.01 per share on revenue of $145.85 million. Since the release of its earnings report, LegalZoom lost 0.84%.

— Average trading volume refers to a 21-day rolling average.