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March 15, 2023
A busy day for Insulet Corporation, Terminix Global Holdings, Inc., First Republic Bank, being the prominent stocks displaying higher volumes than usual.
A recap of yesterday's session: Markets closed higher yesterday, as S&P 500 ended the session at 3,919.29 after a 1.65% gain. Nasdaq gained 2.14% and closed at 11,428.
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 stocks recording abnormally high trading volumes. Here's a recap:
Insulet | 2,300% above rolling average
The innovative medical device company is up 62.79% from the significant low of $186.4 it hit 10 months ago. Insulet's market cap currently stands at $21.75 billion with an average daily volume of 717,126 shares.
Insulet had a compelling day yesterday, with 16.41 million shares traded helping the company surpass its average daily volume by 2,300%.
Terminix | 482% higher than rolling average
With 25.88 million shares traded yesterday, Terminix beat its daily average by 482% to cap off a frenetic trading day.
The pest control company has shed 13.91% over the past six months. On a negative trend for around 5 months.
First Republic Bank | 1,078% higher than rolling average
Currently up $8.42 today, First Republic Bank is on course to break its six-day losing run. The current year has not been the best for the regional full-service bank as it lost 74.32% from its highest point of $170.53. Trending downwards for around a month. First Republic Bank's market cap is currently $7.38 billion with an average daily trading volume of 10.72 million shares.
First Republic Bank had a compelling day yesterday, with 115.60 million shares traded helping the company surpass its average daily volume by 1,078%.
— Average trading volume refers to a 21-day rolling average.
