Take a look at the following communication_services stocks that showed higher volumes than usual: Pearson plc, Chunghwa Telecom Co., Ltd., PLAYSTUDIOS, Inc..
Here's an update with information from the last trading session: Leading equity indices in the US declined as Dow Jones slipped 0.87% and closed at 31,875. After dropping 0.7%, S&P 500 closed at 3,892.
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.
Pearson Plc | 282% above rolling average
Trading volume was 1.14 million shares yesterday — beating the daily average by a mammoth 282%.
The British publishing and education company has fallen back around 14.74% from the significant high of $12 set 3 months ago. Trending downwards for around a month. Over the last 9 days, Pearson Plc has fallen 9.03%.
Chunghwa Telecom | 235% higher than rolling average
With 266,990 shares traded yesterday, Chunghwa Telecom beat its daily average by 235% to cap off a frenetic trading day.
The largest telecoms company in Taiwan is now trading 17.64% above the significant low ($33.05) it slumped to 4 months ago. The stock has been trending positively for about 4 months.
Playstudios | 200% above rolling average
Yesterday's trading volume was 477,066 shares (surpassing the daily average by 200%).
The free-to-play casual game developer is now trading 41.2% below the significant high of $6.48 it set around 9 months ago.
— Average trading volume refers to a 21-day rolling average.