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April 07, 2023
Shaw Communications Inc., Skillz Inc., AMC Entertainment Holdings, Inc. and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Markets closed higher yesterday, as Nasdaq closed the day at 12,100, having gained 0.76%. S&P 500 ended the session at 4,105 after a 0.36% gain.
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 | 472% higher than rolling average
Yesterday's trading volume was 6.34 million shares (surpassing the daily average by 472%).
5 months ago, the Canadian ISP fell to a low of $24 but has since recovered 24.68%. Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58.
Shaw Communications discloses 7.2 cents per share dividend to be paid on Thursday, March 30th
Skillz | 279% above rolling average
Skillz outpaced its average daily trading volume (8.68 million) with 24.21 million shares traded yesterday.
1 year, 1 day ago the video game competition platform reached a significant high of $2.91 but has consequently lost 81.11% since then.
AMC Entertainment | 288% higher than rolling average
With 100.94 million shares traded yesterday, AMC Entertainment beat its daily average by 288% to cap off a frenetic trading day.
The theatre company reached a significant high of $25.46 around 7 months ago but has lost 84.09% since then. AMC Entertainment has posted further gains as part of a 3 day trend that has already seen the stock gain 14 cents.
— Average trading volume refers to a 21-day rolling average.
