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June 02, 2023
Shaw Communications Inc., Taboola.com Ltd., Bilibili Inc. had the highest volumes yesterday.
A recap of yesterday's session: Markets were up yesterday; S&P 500 ended the session at 4,221 after a 0.99% gain. Nasdaq gained 1.28% and closed at 13,100.
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 communication_services stocks recording abnormally high trading volumes. Here's a recap:
Shaw Communications | 473% above rolling average
Shaw Communications Inc. hit a significant low of $24 around 7 months ago, but has since recovered 24.68%. The stock has been trending positively for about 2 months. The company has a market cap of $14.94 billion with an average daily trading volume of 1.34 million shares.
Yesterday's trading volume was 6.35 million shares (surpassing the daily average by 473%).
Taboola | 209% higher than rolling average
Trading volume was 3 million shares yesterday — beating the daily average by a mammoth 209%.
Having soared to a high of $4.3 approximately 3 months ago, the leading discovery and native advertising platform is now trading 36.51% lower. Taboola has posted further gains as part of a 3 day trend that has already seen the stock gain 8 cents.
Bilibili | 312% above rolling average
Trading volume was 14.59 million shares yesterday — beating the daily average by a mammoth 312%.
This year has been a gloomy one for the iconic Chinese brand after trading as high as $29.71 and going on to lose 41.55% of its value. On a negative trend for around 2 months. While Bilibili was in the midst of a 13 day downtrend— in which it lost a total of 18.95%—
— Average trading volume refers to a 21-day rolling average.
