A busy day for Live Nation Entertainment Inc, DISH Network Corp, Tremor International Ltd, being the prominent communication services stocks displaying higher volumes than usual.
Today's session summary: Leading equity indices in the US rose as Nasdaq ended the session at 10,743 after a 1% gain. S&P 500 gained 0.7% and closed at 3,919.25.
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 today with some communication services stocks recording abnormally high trading volumes. Here's a recap:
Live Nation Entertainment | 358% above rolling average
The live entertainment specialist has gained 4.94% since its lowest print of $66.21 earlier this year. The stock has been trending positively for about a month. The company has a market cap of $16.75 billion with an average daily volume of 1.69 million shares.
Trading volume was 6 million shares today — beating the daily average by a mammoth 358%.
DISH | 180% higher than rolling average
After five days of gains, it is down 6.26% today. This year has been a bright one for the direct-broadcast satellite provider after trading as low as $12.96 and going on to appreciate by 12.2% year to date. DISH's market cap is currently $7.87 billion with an average daily trading volume of 4.74 million shares.
DISH outpaced its average daily trading volume (4.74 million) with 8.51 million shares traded today.
Tremor International | 148% above rolling average
Today's trading volume peaked at 327,191 shares, thereby blitzing the daily average of 220,800 by 148%.
The advertising-technology company has managed to gain 10.05% so far this year despite trading at lows around $6.19 previously.
— Average trading volume refers to a 21-day rolling average.