Guardant Health, Inc., Trulieve Cannabis Corp., Curaleaf Holdings, Inc. and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Nasdaq closed at 10,546, a 1.49% change. After dropping 0.9%, S&P 500 closed at 3,817.66.
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.
Though trading was down yesterday, some health care stocks reached high volumes. Here is an update.
Guardant Health | 258% higher than rolling average
Currently up 17 cents today, Guardant Health, Inc. is on course to break its 10-day losing run. The precision oncology company has shed 45.2% over the past three months. The cancer treatment developer's market cap currently stands at $3 billion with an average daily trading volume of 1.41 million shares.
Yesterday's trading volume was 3.63 million shares (surpassing the daily average by 258%).
Trulieve Cannabis | 224% above rolling average
Trulieve Cannabis had a compelling day yesterday, with 809,323 shares traded helping the company surpass its average daily volume by 224%.
A day ago, the medical and recreational cannabis provider fell to a low of $7.29 but has since recovered 21.26%.
Curaleaf | 210% above rolling average
With 1.18 million shares traded yesterday, Curaleaf beat its daily average by 210% to cap off a frenetic trading day.
Curaleaf hit a significant low of $4.3 around a day ago, but has since recovered 20%.
— Average trading volume refers to a 21-day rolling average.