Take a look at the following large cap and over stocks: Abiomed, Canon Inc., Lucid Group, Inc. and others showed higher volumes than usual.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Nasdaq closed at 11,400, a 1.96% change. S&P 500 lost 1.3% and ended the session at 4,017.77.
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 reached high volumes. Here is an update.
Abiomed | 506% above rolling average
Abiomed is currently trading with a market cap of $17.18 billion with an average daily volume of 3.10 million shares.
Trading volume was 15.70 million shares yesterday — beating the daily average by a mammoth 506%.
Canon | 449% above rolling average
Canon hit a significant low of $20.85 around 2 months ago, but has since recovered 8.97%. Canon's market cap is currently $21.60 billion with an average daily trading volume of 446,620 shares.
Yesterday's trading volume peaked at 2 million shares, thereby blitzing the daily average of 446,620 by 449%.
Lucid Group, Inc. | 281% above rolling average
Yesterday's trading volume was 114.34 million shares (surpassing the daily average by 281%).
Lucid Group, Inc. hit a significant low of $6.17 around 28 days ago, but has since recovered 108.59%.
— Average trading volume refers to a 21-day rolling average.