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July 04, 2023STORE Capital Corporation, Duck Creek Technologies, Inc., CoStar Group, Inc. and others reached higher-than-usual trading volumes.
Yesterday's session summary: Leading equity indices in the US rose as Nasdaq gained 0.21% and closed at 13,817. S&P 500 closed the day at 4,455.59, having gained 0.12%.
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:
STORE Capital Corporation | 157% higher than rolling average
Trading volume peaked at 4 million shares yesterday, thereby obliterating the daily average of 2.61 million by 157%.
Duck Creek Technologies | 103% slightly above rolling average
Trading volume was 1.87 million shares yesterday — beating the daily average by a mammoth 103%.
Duck Creek Technologies hit a significant low of $10.24 around 7 months ago, but has since recovered 85.45%. The stock has been trending positively for about 5 months. Following a month of flat trade,
CoStar | sustained 72% higher trading volume than average yesterday
Yesterday's trading volume peaked at 3.40 million shares, thereby blitzing the daily average of 4.73 million by 72%.
The commercial property company has fallen back around 1.24% over the past 5 days, from a notable high of $90.12. The stock has been trending positively for about 3 months. Having fallen $1.12 in 3 days,
— Average trading volume refers to a 21-day rolling average.
