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April 02, 2023
Abiomed, Nektar Therapeutics, Signify Health, Inc. and others reached higher-than-usual trading volumes.
A recap of Friday's session: Leading equity indices in the US rose as Dow Jones gained 1.26% and closed at 33,274. S&P 500 closed the day at 4,109.31, having gained 1.44%.
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 healthcare stocks recording abnormally high trading volumes. Here's a recap:
Abiomed | 506% above rolling average
Abiomed's market cap is currently $17.18 billion with an average daily volume of 3.10 million shares.
With 15.70 million shares traded Friday, Abiomed beat its daily average by 506% to cap off a frenetic trading day.
Nektar Therapeutics | 497% above rolling average
Trading volume was 16.10 million shares Friday — beating the daily average by a mammoth 497%.
While in the midst of a 7 day downtrend, losing a total of 55.23% (93.4 cents),
Signify Health | 574% above rolling average
Signify Health had a compelling day Friday, with 9.57 million shares traded helping the company surpass its average daily volume by 574%.
With around 25 days of flat trade under its belt,
— Average trading volume refers to a 21-day rolling average.
