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April 20, 2023
Abiomed, Intuitive Surgical, Signify Health, Inc. had the highest volumes yesterday.
A recap of yesterday's session: Markets did not have a clear cut direction — after dropping 0.23%, Dow Jones closed at 33,900. Nasdaq closed 12,157 after a stable day.
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
With 15.70 million shares traded yesterday, Abiomed beat its daily average by 506% to cap off a frenetic trading day.
The stock has been trending positively for about 2 months.
The company trades at $381 ahead of quarterly performance report which is scheduled to be released Wednesday.
Intuitive Surgical | 345% above rolling average
With 6.18 million shares traded yesterday, Intuitive Surgical beat its daily average by 345% to cap off a frenetic trading day.
The past 3 months have been positive for the robotic surgery systems manufacturer as it added 20.64% compared to its 3-month low of $183.06. The stock has been trending positively for about a month. Intuitive Surgical has posted further gains as part of a 16 day trend that has already seen the stock gain $19.79.
Signify Health | 261% higher than rolling average
The healthcare platform developer is now trading 172.3% above the significant low ($11.19) it slumped to 10 months ago. The stock has been trending positively for about 9 months. Signify Health is currently trading with a market cap of $8.93 billion with an average daily trading volume of 3.69 million shares.
Trading volume peaked at 9.63 million shares yesterday, thereby obliterating the daily average of 3.69 million by 261%.
— Average trading volume refers to a 21-day rolling average.
