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April 14, 2023
The following communication_services stocks experienced higher volumes than usual including Shaw Communications Inc., Warner Bros. Discovery, Inc., Playtika Holding Corp. and others.
A quick recap of where the last trading session ended: Markets were up yesterday; Nasdaq gained 2% and closed at 12,166. Dow Jones closed the day at 34,030, having gained 1.14%.
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% higher than rolling average
With 6.35 million shares traded yesterday, Shaw Communications Inc. beat its daily average by 473% to cap off a frenetic trading day.
After hitting an important low of $24 approximately 6 months ago, the Canadian telecoms provider has bounced back 24.68% since. The stock has been trending positively for about a month. 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
Warner Bros | 205% higher than rolling average
The US media colossus has recovered 58.51% since descending to a significant low of $8.87 around 3 months ago. Currently, the US mass media and entertainment conglomerate has a market capitalization of $34.20 billion with an average daily trading volume of 17.44 million shares.
Yesterday's trading volume peaked at 35.82 million shares, thereby blitzing the daily average of 17.44 million by 205%.
Playtika | 127% slightly above rolling average
Trading volume was 2.00 million shares yesterday — beating the daily average by a mammoth 127%.
Having set a significant low of $7.89 3 months ago, the mobile casino game developer is trading 47.66% higher. Playtika's bearish run has lasted 4 days so far (-26 cents).
— Average trading volume refers to a 21-day rolling average.
