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June 29, 2023
The following real_estate stocks experienced higher volumes than usual including Opendoor Technologies Inc., Rayonier Inc., CoStar Group, Inc. and others.
A recap of yesterday's session: Markets completed a mixed session yesterday, as Dow Jones lost 0.22% and ended the session at 33,853. Nasdaq ended the session at 13,600 after a 0.27% gain.
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 real_estate stocks were actively traded. Here's an update:
Opendoor Technologies Inc | 162% above rolling average
Opendoor Technologies Inc. is up 58 cents to $3.98, building upon four consecutive days of gains. The past 3 months have been positive for the online US real estate company as it added 282% compared to its 3-month low of 97.01 cents. The stock has been trending positively for about 2 months. The company's market cap currently stands at $2.58 billion with an average daily trading volume of 29.71 million shares.
Opendoor Technologies Inc outpaced its average daily trading volume (29.71 million) with 48.12 million shares traded yesterday.
Rayonier | 169% above rolling average
Rayonier is up to $30.82 (4.05%), adding to its four consecutive days of gains. Rayonier hit a significant low of $28.42 around 6 days ago, but has since recovered 4.22%. Rayonier is currently trading with a market cap of $4.57 billion with an average daily volume of 552,808 shares.
Trading volume peaked at 936,152 shares yesterday, thereby obliterating the daily average of 552,808 by 169%.
CoStar | 126% slightly above rolling average
CoStar outpaced its average daily trading volume (3.13 million) with 3.96 million shares traded yesterday.
The information and analytics provider now trading 32.25% above its 3-month low of $57.94. The stock has been trending positively for about 3 months. Though in the midst of a 15 day uptrend, gaining a total of 12.15%, ($10.27),
— Average trading volume refers to a 21-day rolling average.
