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July 04, 2023
ReWalk Robotics Ltd., Abiomed, Canopy Growth Corporation had the highest volumes yesterday.
A quick recap of where the last trading session ended: Leading equity indices in the US rose as Nasdaq closed the day at 13,817, having gained 0.21%. S&P 500 gained 0.12% and closed at 4,455.59.
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 healthcare stocks recording abnormally high trading volumes. Here's a recap:
ReWalk Robotics | 765% higher than rolling average
Yesterday's trading volume peaked at 1.41 million shares, thereby blitzing the daily average of 184,312 by 765%.
ReWalk Robotics hit a significant low of 57.02 cents around 5 days ago, but has since recovered 5.23%. ReWalk Robotics has posted further gains as part of a 3 day trend that has already seen the stock gain 2.98 cents.
Abiomed | 506% higher than rolling average
Abiomed outpaced its average daily trading volume (3.10 million) with 15.70 million shares traded yesterday.
The stock has been trending positively for about 5 months.
Canopy Growth | 494% higher than rolling average
Yesterday's trading volume was 86.58 million shares (surpassing the daily average by 494%).
Having set a significant high of $4.32 6 months ago, the cannabis producer is trading 91% lower.
— Average trading volume refers to a 21-day rolling average.
