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March 01, 2023IQIYI, Inc., NetEase, DISH Network Corp had the highest volumes today.
Today's session summary: Leading equity indices in the US declined as after dropping 0.66%, Nasdaq closed at 11,379. S&P 500 was down 0.47% before closing the session at 3,951.39.
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.
IQIYI | 281% higher than rolling average
IQIYI, Inc. hit a significant low of $2 around 4 months ago, but has since recovered 284.58%. IQIYI has a market cap of $6.48 billion with an average daily trading volume of 18.68 million shares.
Trading volume was 52.55 million shares today — beating the daily average by a mammoth 281%.
NetEase | 218% above rolling average
Today's trading volume peaked at 3.73 million shares, thereby blitzing the daily average of 1.71 million by 218%.
The Chinese Internet content and gaming company has recovered 40.12% since descending to a significant low of $55.41 around 4 months ago. Trending downwards for around a month.
NetEase discloses 43.3 cents per share dividend to be paid on Friday, December 16th
Dish Network | 176% higher than rolling average
DISH went down to $11.18 (2.02%), adding to its five days of losses. The US multi-device provider of TV services's market cap currently stands at $5.94 billion with an average daily volume of 5.34 million shares.
DISH had a compelling day today, with 9.38 million shares traded helping the company surpass its average daily volume by 176%.
— Average trading volume refers to a 21-day rolling average.
