The highest volumes for Wednesday went to: Duke Realty Corp, Autodesk, BioMarin Pharmaceutical Inc..
A recap of Wednesday's session: Leading equity indices in the US rose as Nasdaq ended the session at 11,300 after a 0.99% gain. S&P 500 closed the day at 4,027.26, having gained 0.59%.
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 Wednesday with some large cap and over stocks recording abnormally high trading volumes. Here's a recap:
Duke Realty bulls in charge as markets close for Thanksgiving End of a slump? After 22 days of going down, Duke Realty up 0.48% Wednesday
Duke Realty Corp climbs 0.48% to close at $48.2 Wednesday.
The US-based industrial REIT has shed 22.28% over the past three months. So far in 2022, it has been under-performing the S&P 500 by 6.21%. Duke Realty's market cap is currently $18.56 billion Duke Realty last reported revenue of $280.15 million with an EPS of 27 cents.
Autodesk | 323% above rolling average Autodesk depreciates 5.66% with $188 as the low of the day
With 6.27 million shares traded Wednesday, Autodesk beat its daily average by 323% to cap off a frenetic trading day. After ending Tuesday at $208.9, Autodesk dropped to $188 early in Wednesday's session and closed at $197.07. In total, it lost 5.66%.
Autodesk hit a significant low of $164.31 around 5 months ago, but has since recovered 27.14%. So far in 2022, it has performed better than the Nasdaq by 11.38%. Autodesk's market cap currently stands at $42.54 billion with an average daily trading volume of 1.94 million shares.
The company reported earnings of 1.03 per share Tuesday, falling short of expectations of 1.07. Revenue was also lower than expected at $1.28 billion versus $1.28 billion. Since the release of its earnings report, Autodesk lost 4.57%
BioMarin Pharmaceutical | 271% above rolling average BioMarin Pharmaceutical bulls in charge as markets close for Thanksgiving
Wednesday's trading volume peaked at 4.64 million shares, thereby blitzing the daily average of 1.71 million by 271%. BioMarin Pharmaceutical ended Tuesday's session at $91.18. Wednesday started with an increase to $99.68, but dropped back and closed at $97.79.
The enzyme replacement therapy specialist is now trading 6.76% below the significant high of $97.79 it set around 2 days ago. The Nasdaq has been doing worse in 2022, it has been passing it by 50.89%. The company's market cap is $18.17 billion with an average daily volume of 1.71 million shares. $505.34 million was BioMarin Pharmaceutical's last reported revenue with -3 cents being the current EPS.
— Average trading volume refers to a 21-day rolling average.