The following health care stocks experienced higher volumes than usual including Iovance Biotherapeutics, Inc., Cresco Labs Inc., Curaleaf Holdings, Inc. and others.
Here's an update with information from the last trading session: Leading equity indices in the US declined as S&P 500 was down 1.79% before closing the session at 3,999. Dow Jones lost 1.4% and ended the session at 33,947.
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.
Iovance Biotherapeutics | 432% higher than rolling average Iovance Biotherapeutics closes at $8.03 after gaining 17.4%
With 19.83 million shares traded yesterday, Iovance Biotherapeutics, Inc. beat its daily average by 432% to cap off a frenetic trading day. Iovance Biotherapeutics displays further gains following a recent trend of 5 days and 89 cents. Iovance Biotherapeutics pointed in the same direction yesterday: Iovance Biotherapeutics ended Friday's session at $6.84. yesterday started with an increase to $8.42, but dropped back and closed at $8.03.
Iovance Biotherapeutics hit a significant low of $5.95 around 8 days ago, but has since recovered 14.96%. The company's market cap is $1.27 billion with an average daily volume of 4.59 million shares.
Cresco Labs | 340% above rolling average Bullish session ends with 1.32% gain for Cresco Labs as 4 days uptrend continues
Cresco Labs outpaced its average daily trading volume (504,620) with 1.71 million shares traded yesterday. 4 days and 53 cents of gains are not enough for Cresco Labs. Cresco Labs stayed on track yesterday: Cresco Labs ended Friday at $3.8. yesterday it went up to $4.2 only to drop back, yet still managed to close at $3.85.
Curaleaf | 355% above rolling average Solid session for Curaleaf generates 4.41% gain yesterday
Curaleaf outpaced its average daily trading volume (429,141) with 1.52 million shares traded yesterday. Curaleaf is on a 9 day uptrend, gaining a total of 18.28%. on-trend Curaleaf closed the session yesterday with more of the same: the US-based cannabis dispensary topped out at $7.9 having ended yesterday at $7.57. However, despite early momentum, the stock gave up its gains to now trade at $7.57.
— Average trading volume refers to a 21-day rolling average.