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June 29, 2023
The highest trading volumes during yesterday's session were recorded by: Abiomed, Signify Health, Inc., Regeneron Pharmaceuticals.
Here's an update with information from the last trading session: Markets completed a mixed session yesterday while Dow Jones closed at 33,853, a 0.22% change. Nasdaq closed the day at 13,600, having gained 0.27%.
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.
While trading was mostly sideways yesterday, several healthcare stocks were actively traded. Here's an update:
Abiomed | 506% above rolling average
The stock has been trending positively for about 5 months. Abiomed's market cap currently stands at $17.18 billion with an average daily volume of 3.10 million shares.
With 15.70 million shares traded yesterday, Abiomed beat its daily average by 506% to cap off a frenetic trading day.
Signify Health | 261% higher than rolling average
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. The home health care services company's market cap currently stands at $8.93 billion with an average daily trading volume of 3.69 million shares.
Signify Health had a compelling day yesterday, with 9.63 million shares traded helping the company surpass its average daily volume by 261%.
Regeneron | 273% higher than rolling average
Trading volume peaked at 1.82 million shares yesterday, thereby obliterating the daily average of 667,465 by 273%.
2 months ago the biopharmaceutical medicines company reached a significant high of $830.35 but has consequently lost 13.76% since then. Pointing downwards for around 2 months. Over the last 3 days, Regeneron has fallen 10.75%.
— Average trading volume refers to a 21-day rolling average.
