The highest volumes today go to: Bilibili Inc., iQIYI, Inc., Live Nation Entertainment Inc.
A short overview of the current market situation: The leading indices are slipping — S&P 500 drawing back 1.51% to 4,010.35. Dow Jones slipping 1.16% and closing at 34,030.
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 Friday, some communication services stocks are currently at high volumes. Here is an update.
25.58 million traded volume exceeded the daily average by 189%: Bullish phase under threat as Bilibili stays range-bound
Bilibili Inc. is having an eventful day so far, currently at 25.58 million and outpacing its average daily volume by 189%. In the midst of a 6 day bullish trend, today's session might suggest a slow down — after ending Friday at $19.84, the iconic Chinese brand recovers back to $19.79 after dipping down to $19.48 earlier today.
Having set a significant high of $61.16 a month ago, the Chinese video community enabler is trading 122.42% lower. So far in 2022, it has been doing worse than the Nasdaq by 17.17%. Bilibili has a market cap of $7.58 billion with an average daily volume of 13.56 million shares.
Eclipsing the average by 179%: IQIYI currently down 4.19% prior to afternoon session
A blockbuster trading session for iQIYI, eclipsing its average daily volume by 179% and recording 29.59 million. While bearish sentiment is dominating the market, the internet video streaming service is maintaining its poise around $3.2 while ranging between $3.17 and $3.95 so far today.
Jumping by 124%: A slow down? After five days of going up, Live Nation Entertainment is flat today, hovering around $73.87.
A hectic day for Live Nation Entertainment, surpassing its average daily volume by 124% to reach 4.23 million. On a 10 day uptrend, today's session might suggest a slow down — without a clear-cut direction, Live Nation Entertainment is trading around $73.87 and ranging between $73.08 and $74.56.
Live Nation Entertainment hit a significant low of $66.21 around 17 days ago, but has since recovered 11.64%. So far in 2022, it has been under-performing the S&P by 21.18%. Live Nation Entertainment is currently trading with a market cap of $17 billion with an average daily trading volume of 3.41 million shares. Live Nation Entertainment's last revenue report was $6.15 billion with an EPS of $1.39.
— Average trading volume refers to a 21-day rolling average.