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May 26, 2023
Take a look at the following communication_services stocks: Shaw Communications Inc., Twenty-First Century Fox Inc., AT&T and others showed higher volumes than usual.
Here's an update with information from the last trading session: Markets completed a mixed session yesterday while Nasdaq gained 1.71% and closed at 12,700. S&P 500 closed the day at 4,151.28, having gained 0.88%.
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 communication_services stocks were actively traded. Here's an update:
Shaw Communications | 473% higher than rolling average
Shaw Communications Inc. hit a significant low of $24 around 7 months ago, but has since recovered 24.68%. The stock has been trending positively for about 2 months. The company's market cap currently stands at $14.94 billion with an average daily volume of 1.34 million shares.
Yesterday's trading volume was 6.35 million shares (surpassing the daily average by 473%).
Twenty-First Century Fox | 317% above rolling average
Twenty-First Century Fox has posted further gains as part of an 11 day trend that has already seen the stock gain 49 cents. Yesterday's session pointed in the same direction — bullish sentiment helped the multinational entertainment provider to hammer out a noteworthy $28.45 to $29.08 range yesterday, and finally closing at $28.92 to end the session.
Twenty-First Century Fox outpaced its average daily trading volume (1.20 million) with 3.79 million shares traded yesterday.
AT&T | 272% above rolling average
AT&T outpaced its average daily trading volume (37.22 million) with 101.34 million shares traded yesterday.
The telecoms multinational has shed 20.41% over the past three months. Pointing downwards for around a month. Having fallen $1.18 in 15 days,
AT&T discloses 27.75 cents per share dividend to be paid on Monday, May 1st
— Average trading volume refers to a 21-day rolling average.
