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June 12, 2023
Following today's heightened trading volumes, Terminix Global Holdings, Inc., Enel Américas S.A., Umpqua Holdings Corporation were the standout stocks.
A recap of today's session: Markets had an interesting day today; Nasdaq ended the session at 13,462 after a 1.53% gain. S&P 500 gained 0.93% and closed at 4,339.
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 today with some stocks recording abnormally high trading volumes. Here's a recap:
Terminix | 482% above rolling average
The pest control company is now trading 16.64% below the significant high of $45.66 it set around 10 months ago. Pointing downwards for around 8 months. With an average daily trading volume of 5.37 million shares.
Today's trading volume was 25.88 million shares (surpassing the daily average by 482%).
Enel Americas | 3,026% higher than rolling average
Today's trading volume peaked at 32.43 million shares, thereby blitzing the daily average of 1 million by 3,026%.
Enel Americas hit a significant low of $3.88 around 10 months ago, but has since recovered 30.15%.
Umpqua Bank | 1,000% higher than rolling average
Trading volume peaked at 24.81 million shares today, thereby obliterating the daily average of 2.48 million by 1,000%.
The local business bank reached a significant high of $20.93 around 7 months ago but has lost 15.62% since then. On a negative trend for around 4 months.
— Average trading volume refers to a 21-day rolling average.
