Americold Realty Trust, Opendoor Technologies Inc., Park Hotels & Resorts Inc. and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Markets were up yesterday; Dow Jones ended the session at 33,674 after a 1.65% gain. S&P 500 gained 1.85% and closed at 4,136.25.
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 yesterday with some real_estate stocks recording abnormally high trading volumes. Here's a recap:
Americold Realty Trust | 213% higher than rolling average
Yesterday's trading volume peaked at 2.75 million shares, thereby blitzing the daily average of 1.29 million by 213%.
The US REIT is now trading 32.07% above the significant low ($22.11) it slumped to 6 months ago. The stock has been trending positively for about a month. Americold Realty Trust has posted further gains as part of a 4 day trend that has already seen the stock gain 54 cents.
Americold Realty Trust discloses 22 cents per share dividend to be paid on Friday, April 14th
Americold Realty Trust reported earnings results Thursday, with EPS at 0.29 and revenues at $676.49 million; these results are mixed when compared to a consensus of 0.26 Earnings Per Share and $707.22 million revenue. Since the release of its earnings report, Americold Realty Trust gained 6.1%.
Opendoor Technologies Inc | 208% above rolling average
Trading volume was 38.65 million shares yesterday — beating the daily average by a mammoth 208%.
The online US real estate company is now trading 83.15% below the significant high of $8 it set around 11 months ago. Opendoor Technologies Inc has posted further gains as part of a 3 day trend that has already seen the stock gain 1 cents.
Opendoor Technologies Inc reported earnings results Thursday, with EPS at -0.71 and revenues at $3.12 billion; these results are mixed when compared to a consensus of -0.66 Earnings Per Share and $2.68 billion revenue. Since the release of its earnings report, Opendoor Technologies Inc gained 33.58%.
Park Hotels & Resorts | 160% higher than rolling average
Yesterday's trading volume was 5.75 million shares (surpassing the daily average by 160%).
America's 2nd largest publicly traded lodging REIT has recovered 14.34% since descending to a significant low of $11 around a month ago. The stock has been trending positively for about a month. Park Hotels & Resorts has posted further gains as part of an 8 day trend that has already seen the stock gain $1.1.
Park Hotels & Resorts discloses 15 cents per share dividend to be paid on Monday, April 17th
— Average trading volume refers to a 21-day rolling average.