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March 05, 2023
The following communication_services stocks experienced higher volumes than usual including Pearson plc, Warner Music Group Corp., Bilibili Inc. and others.
Friday's session summary: Leading equity indices in the US rose as S&P 500 ended the session at 4,045.64 after a 1.61% gain. Nasdaq gained 1.97% and closed at 11,700.
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.
Price action was mostly bullish Friday with some communication_services stocks recording abnormally high trading volumes. Here's a recap:
Pearson Plc | 250% higher than rolling average
Pearson plc traded at $10.57 after making its biggest single-day drop of 44 cents (4%) since Feb 6. Pearson Plc has lost 4.52% over the last 3 days. More of the same from Friday's session: after ending Thursday at $11, Pearson Plc dropped to $10.38 early in Friday's session and closed at $10.57. In total, it lost 4%.
Pearson Plc had a compelling day Friday, with 970,241 shares traded helping the company surpass its average daily volume by 250%.
Warner Music | 178% higher than rolling average
A 7 day downtrend is ongoing for Warner Music. A possible reversal detected from Friday; an influx of buyers helped the world's 3rd largest recording company to end the session higher around $31.81, while establishing a $31.23 to $32 session range Friday.
Friday's trading volume was 2.51 million shares (surpassing the daily average by 178%).
Bilibili | 208% above rolling average
Trading volume was 16.53 million shares Friday — beating the daily average by a mammoth 208%.
4 months ago, the Chinese video community enabler fell to a low of $8.92 but has since recovered 141.82%. Bilibili has posted further gains as part of a 4 day trend that has already seen the stock gain $2.27.
— Average trading volume refers to a 21-day rolling average.
