Zoom, Similarweb Ltd., DISH Network Corp had the highest volumes yesterday.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as after dropping 0.71%, Dow Jones closed at 32,657. S&P 500 lost 0.3% and ended the session at 3,970.
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 communication_services stocks reached high volumes. Here is an update.
Zoom | 363% higher than rolling average
A 9 day downtrend is ongoing for Zoom. A possible change of direction spotted from yesterday; the US video tech company rallied 1.18% and maintained $74.59.
Trading volume was 18.53 million shares yesterday — beating the daily average by a mammoth 363%.
Similarweb | 233% higher than rolling average
Though in the midst of a 5 day uptrend, gaining a total of 2.97%, (33 cents), The prevailing bullish trend is beginning to fade following yesterday's downbeat session. After ending Monday at $6.72, Similarweb dropped to $6.31 early in yesterday's session and closed at $6.58. In total, it lost 2.08%.
Yesterday's trading volume was 581,475 shares (surpassing the daily average by 233%).
DISH | 295% higher than rolling average
Yesterday's trading volume peaked at 14.90 million shares, thereby blitzing the daily average of 5 million by 295%.
The direct-broadcast satellite provider is now trading 6.92% above the significant low ($11.41) it slumped to a day ago. Having fallen $1.56 in 4 days,
Dish Network reported inconclusive earnings results Thursday, with revenue at $4 billion, compared to a consensus of $4.15 billion. Since the release of its earnings report, Dish Network lost 12.77%.
— Average trading volume refers to a 21-day rolling average.