Zynga Inc., Madison Square Garden Sports Corp., Tremor International Ltd had the highest volumes yesterday.
A quick recap of where the last trading session ended: Markets completed a mixed session yesterday, as Dow Jones ended the session at 34,347 after a 0.45% gain. Nasdaq closed at 11,226, a 0.52% change.
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 yesterday, several communication services stocks were actively traded. Here's an update:
Zynga | 600% above rolling average Zynga lost 2.04% yesterday, closed at $8.18
With 227.57 million shares traded yesterday, Zynga Inc. beat its daily average by 600% to cap off a frenetic trading day. Having fallen 12 cents in 8 days, more of the same from yesterday's session: during yesterday's session, Zynga toiled and struggled for upward momentum before closing at $8.18. By the close, the the mobile game developer suffered a 17 cents or 2.04% loss.
Zynga hit a significant low of $5.77 around 11 months ago, but has since recovered 44.71%. So far in 2022, it has been outperforming the Nasdaq by 65.26%. With an average daily volume of 37.88 million shares. Zynga last reported revenue of $694.9 million with an EPS of 9.19 cents.
Madison Square Garden Sports Corp. | 165% higher than rolling average Madison Square Garden Sports Corp. opened at $154 yesterday before posting solid session gaining 4.4%
With 271,920 shares traded yesterday, Madison Square Garden Sports Corp. beat its daily average by 165% to cap off a frenetic trading day. Madison Square Garden Sports Corp. is on a 7 day uptrend, gaining a total of 8.51%. on-trend Madison Square Garden Sports Corp. closed the session yesterday with more of the same: the pro sports team manager gained 4.4% and stayed at $160.51 levels.
Having set a significant high of $181.07 a month ago, the US sports holding company is trading 12.51% lower. Madison Square Garden Sports Corp.'s market cap currently stands at $3.18 billion with an average daily trading volume of 165,099 shares. Madison Square Garden Sports Corp.'s last revenue report was $24 million with an EPS of -73 cents.
Tremor International | 136% above rolling average Tremor International gains 2.93% within $7 to $7.39 daily range
Trading volume peaked at 218,302 shares yesterday, thereby obliterating the daily average of 160,612 by 136%. Tremor International is on a 6 day bullish run gaining 32 cents (8%). yesterday's session pointed in the same direction — having ended a bullish session yesterday at $7.03, momentum helped Tremor International finish the day 20 cents or 2.93% higher, although mixed sentiments ensured the video-first advertising technology platform etched out a distinct $7 to $7.39 session range.
— Average trading volume refers to a 21-day rolling average.