Five Below, Inc., Dollar General, Salesforce and others reached higher-than-usual trading volumes.
Today's session summary: Markets did not have a clear cut direction — after dropping 0.56%, Dow Jones closed at 34,400. Nasdaq closed at 11,482 after a flat day.
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.
While trading was mostly sideways today, several large cap and over stocks were actively traded. Here's an update:
Five Below | 530% above rolling average Five Below rallied to $188.67 for the first time in 7 months
Five Below, Inc. outpaced its average daily trading volume (824,865) with 4.37 million shares traded today. Five Below ended yesterday's session at $160.86. today started with an increase to $188.67, but dropped back and closed at $187.48.
The past 3 months have been positive for the teen-focused discount store as it added 24.18% compared to its 3-month low of $113. So far in 2022 it has been beating the Nasdaq by 15.5%. The company has a market cap of $10.41 billion with an average daily volume of 824,865 shares.
Dollar General | 523% above rolling average Dollar General loses 7.56%, closes at $236.34 ahead of quarterly report today
Trading volume peaked at 8 million shares today, thereby obliterating the daily average of 1.54 million by 523%. After ending yesterday at $255.68, Dollar General dropped to $230.33 early in today's session and closed at $236.34. In total, it lost 7.56%.
6 months ago, the store chain operator fell to a low of $187.6 but has since recovered 36.29%. So far in 2022, it has been outperforming the S&P 500 by 26.14%. The company's market cap is $53.31 billion with an average daily trading volume of 1.54 million shares.
Dollar General is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 2.55 and the consensus revenue estimate is $9.43 billion.
Salesforce | 462% above rolling average A bad day for Salesforce today, losing 8.09%
Today's trading volume peaked at 33.47 million shares, thereby blitzing the daily average of 7.24 million by 462%. After ending yesterday at $160.25, Salesforce declined to $142.08 today before closing at $147.29, thereby losing 8.09% in total.
— Average trading volume refers to a 21-day rolling average.