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May 08, 2023
The following real_estate stocks experienced higher volumes than usual including Opendoor Technologies Inc., Welltower Inc, KE Holdings Inc. and others.
Today's session summary: Markets completed a mixed session today, as Dow Jones lost 0.17% and ended the session at 33,619. Nasdaq gained 0.18% and closed at 12,257.
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 today, several real_estate stocks were actively traded. Here's an update:
Opendoor Technologies Inc | 244% above rolling average
Opendoor Technologies Inc. outpaced its average daily trading volume (18.61 million) with 45.33 million shares traded today.
The online residential real estate company reached a significant high of $8 around 11 months ago but has lost 77.65% since then. Opendoor Technologies Inc has posted further gains as part of a 3 day trend that has already seen the stock gain 45 cents.
Opendoor Technologies Inc reported earnings results Thursday, with EPS at -0.71 and revenues at $3.12 billion; these results are mixed when compared to a consensus of -0.66 Earnings Per Share and $2.68 billion revenue. Since the release of its earnings report, Opendoor Technologies Inc gained 53%.
Welltower | 219% above rolling average
Welltower outpaced its average daily trading volume (1.91 million) with 4.19 million shares traded today.
Welltower hit a significant low of $57.37 around 6 months ago, but has since recovered 37.28%. The stock has been trending positively for about a month.
Welltower discloses 61 cents per share dividend to be paid on Wednesday, March 8th
Welltower is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 0.12 and the consensus revenue estimate is $1.54 billion.
KE Holdings | 237% higher than rolling average
Trading volume peaked at 11.93 million shares today, thereby obliterating the daily average of 5 million by 237%.
2 months ago the housing company reached a significant high of $20.3 but has consequently lost 21.03% since then. On a negative trend for around a month. Stable at $15.95 and still trending upwards,
— Average trading volume refers to a 21-day rolling average.
