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June 15, 2023
Shaw Communications Inc., Liberty Global plc, Warner Bros. Discovery, Inc. led the pack during today's heightened trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Dow Jones ended the session at 34,400 after a 1.26% gain. S&P 500 closed the day at 4,426, having gained 1.22%.
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 communication_services stocks recording abnormally high trading volumes. Here's a recap:
Shaw Communications | 473% higher than rolling average
The Canadian telecoms provider has recovered 24.68% since descending to a significant low of $24 around 8 months ago. The stock has been trending positively for about 3 months. Shaw Communications has a market cap of $14.94 billion with an average daily trading volume of 1.34 million shares.
Today's trading volume peaked at 6.35 million shares, thereby blitzing the daily average of 1.34 million by 473%.
Liberty Global A | 197% above rolling average
Today's trading volume was 3.64 million shares (surpassing the daily average by 197%).
So far this year, the US telecoms company has declined 13.12% while touching highs around $22.43 earlier this year.
Warner Bros. Discovery | 191% higher than rolling average
The US mass media and entertainment conglomerate is up 54.11% from the significant low of $8.87 it hit 5 months ago. The company has a market cap of $31.99 billion with an average daily trading volume of 22.34 million shares.
With 42.68 million shares traded today, Warner Bros. Discovery beat its daily average by 191% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.
