Tremor International Ltd, Similarweb Ltd., Telefônica Brasil S.A. and others reached higher-than-usual trading volumes.
A recap of yesterday's session: Markets did not have a clear cut direction — Dow Jones closed the day at 32,850, having gained 0.28%. S&P 500 closed at 3,821.62 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 yesterday, several communication services stocks were actively traded. Here's an update:
Tremor International | 686% above rolling average
Tremor International Ltd outpaced its average daily trading volume (145,702) with 999,938 shares traded yesterday.
8 months ago the video-first advertising technology platform reached a significant high of $16.53 but has consequently lost 60.74% since then.
Similarweb | 190% higher than rolling average
Despite the risk-off mood, Similarweb was range-bound between $5.66 to $six and settled at $5.79.
Trading volume peaked at 307,673 shares yesterday, thereby obliterating the daily average of 161,553 by 190%.
Telefonica | 115% slightly greater than rolling average
Approximately 8 months ago, the South American telecoms giant reached a significant high of $11.69 but has struggled to hold onto its gains and declined 40.72% since then. Trending downwards for around a month. Telefonica has a market cap of $12 billion with an average daily trading volume of 3.14 million shares.
Trading volume was 3.60 million shares yesterday — beating the daily average by a mammoth 115%.
— Average trading volume refers to a 21-day rolling average.