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June 21, 2023
A busy day for Shaw Communications Inc., Cable One, Inc., PLAYSTUDIOS, Inc., being the prominent communication_services stocks displaying higher volumes than usual.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Nasdaq was down 1.21% before closing the session 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 today, some communication_services stocks reached high volumes. Here is an update.
Shaw Communications | 473% above rolling average
Shaw Communications Inc. has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58. It was more of the same for Shaw Communications today — Shaw Communications climbs 0.9% to close at $30.18 today.
Today's trading volume was 6.35 million shares (surpassing the daily average by 473%).
Cable One | 169% higher than rolling average
With 120,677 shares traded today, Cable One beat its daily average by 169% to cap off a frenetic trading day.
10 months ago the US communications company reached a significant high of $1,452.32 but has consequently lost 54.56% since then. Over the last 4 days, Cable One has fallen 7.97%.
Cable One discloses $2.85 per share dividend to be paid on Friday, June 16th
Playstudios | 132% slightly greater than rolling average
The past 3 months have been positive for the free-to-play casual game developer as it added 20.37% compared to its 3-month low of $3.36. The stock has been trending positively for about 3 months. The company is currently trading with a market cap of $626 million with an average daily volume of 506,725 shares.
Playstudios outpaced its average daily trading volume (506,725) with 668,941 shares traded today.
— Average trading volume refers to a 21-day rolling average.
