Traders are flocking around MongoDB, Inc., Credicorp Ltd., Brookfield Infrastructure Partners L.P. and others; check out these large cap and over stocks that are displaying higher than typical trading volumes.
Here's the most recent update: The leading indices were losing ground — Nasdaq trades at 10,952 after losing 0.57%. S&P 500 drawing back 0.31% to 3,929.
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.
Though trading was down yesterday, some large cap and over stocks are currently at high volumes. Here is an update.
469% higher than average: After ending the last session at $144.69, MongoDB explodes to $176.77 (up 22.17%)
MongoDB, Inc. is having an eventful day so far, currently at 9.94 million and outpacing its average daily volume by 469%. Following yesterday's session which closed at $144.69, MongoDB went up to $186.75 today only to drop back and trade at $176.77.
The software company is now trading 74.13% below the significant high of $559.19 it set around 11 months ago. So far in 2022, it has been under-performing the Nasdaq by 26.58%. The company has a market cap of $12.15 billion with an average daily trading volume of 2.12 million shares.
MongoDB released its quarterly earnings report yesterday, beating analysts estimates. The company reported earnings of -1.23 per share on revenue of $333.62 million, topping estimates of -1.48 per share on revenue of $303.39 million. Since the release of its earnings report, MongoDB gained 18.86%.
Beating the average by 356%: Credicorp currently down 2.15% halfway through today
A hectic day for Credicorp, surpassing its average daily volume by 356% to reach 1 million. After dipping down to $138.05 today, Peru's largest financial company is recovering but is not yet all the way back to $148.29.
Peru's leading financial services provider now trading 17.3% above its 3-month low of $109. The Nasdaq has been doing worse in 2022, it has been passing it by 63.15%. Credicorp's market cap currently stands at $11.54 billion with an average daily volume of 307,203 shares. Credicorp has a forecast of $4.29 billion with an EPS of $3.75.
1.21 million traded volume exceeded the daily average by 337%: Brookfield Infrastructure down 0.39%, closing at $33.75, for its 5th straight negative day
A blockbuster trading session for Brookfield Infrastructure, eclipsing its average daily volume by 337% and recording 1.21 million. The infrastructure assets manager slides down from $33.88 to $33.75, losing 13.25 cents (0.39%).
The infrastructure assets manager has shed 46.31% over the past six months. So far in 2022, it has been doing worse than the Nasdaq by 0.8%. Brookfield Infrastructure is currently trading with a market cap of $15.47 billion with an average daily trading volume of 359,160 shares. Brookfield Infrastructure is forecasted to generate revenues of $2.88 billion and EPS of 60 cents.
— Average trading volume refers to a 21-day rolling average.