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July 03, 2023
Following Friday's heightened trading volumes, Terminix Global Holdings, Inc., CoStar Group, Inc., Enel Américas S.A. were the standout stocks.
Friday's session summary: Markets closed higher Friday, as S&P 500 gained 1.23% and closed at 4,450.38. Nasdaq ended the session at 13,800 after a 1.45% 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.
Price action was mostly bullish Friday with some stocks recording abnormally high trading volumes. Here's a recap:
Terminix | 482% above rolling average
With 25.88 million shares traded Friday, Terminix Global Holdings, Inc. beat its daily average by 482% to cap off a frenetic trading day.
Having set a significant high of $45.66 10 months ago, the residential and commercial pest control provider is trading 16.64% lower. Trending downwards for around 8 months.
CoStar | 695% higher than rolling average
Friday's trading volume peaked at 32.33 million shares, thereby blitzing the daily average of 4.65 million by 695%.
The commercial property company now trading 28.95% above its 3-month low of $57.94. The stock has been trending positively for about 3 months.
Enel Americas | 3,026% higher than rolling average
Enel Americas had a compelling day Friday, with 32.43 million shares traded helping the company surpass its average daily volume by 3,026%.
The electric power distribution company has recovered 30.15% since descending to a significant low of $3.88 around 11 months ago.
— Average trading volume refers to a 21-day rolling average.
