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May 08, 2023
Take a look at the following stocks that showed higher volumes than usual: Terminix Global Holdings, Inc., Braskem S.A., Enel Américas S.A..
A recap of Friday's session: Markets had an interesting day Friday; Dow Jones gained 1.65% and closed at 33,674. S&P 500 ended the session at 4,136.25 after a 1.85% 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% higher than 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 8 months ago, the residential and commercial pest control provider is trading 16.64% lower. Pointing downwards for around 7 months.
Braskem SA ADR | 1,057% higher than rolling average
The Brazilian petrochemical company closed at $9.17 after it made its largest daily jump of $1.58 (20.82%) since October 2022. Latin America's largest petrochemical company went up to $9.17, gaining 20.82%.
Friday's trading volume was 10.47 million shares (surpassing the daily average by 1,057%).
Enel Americas | 3,026% higher than rolling average
Enel Americas outpaced its average daily trading volume (1 million) with 32.43 million shares traded Friday.
The electric energy company is now trading 30.15% above the significant low ($3.88) it slumped to 9 months ago.
— Average trading volume refers to a 21-day rolling average.
