The highest trading volumes during yesterday's session were recorded by: iQIYI, Inc., NetEase, DISH Network Corp.
A recap of yesterday's session: Leading equity indices in the US declined as after dropping 0.66%, Nasdaq closed at 11,379. S&P 500 closed at 3,951.39, a 0.47% change.
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.
IQIYI | 281% higher than rolling average
IQIYI, Inc. outpaced its average daily trading volume (18.68 million) with 52.55 million shares traded yesterday.
IQIYI hit a significant low of $2 around 4 months ago, but has since recovered 284.58%.
NetEase | 218% above rolling average
The Chinese Internet technology company has recovered 40.12% since descending to a significant low of $55.41 around 4 months ago. Trending downwards for around a month. The company is currently trading with a market cap of $53.54 billion with an average daily trading volume of 1.71 million shares.
NetEase outpaced its average daily trading volume (1.71 million) with 3.73 million shares traded yesterday.
Dish Network | 176% higher than rolling average
Dish Network went down to $11.18 (2.02%), adding to its five days of losses. The US multi-device provider of TV services is up 2.06% from the significant low of $11.18 it hit a day ago. DISH's market cap currently stands at $5.94 billion with an average daily volume of 5.34 million shares.
Trading volume peaked at 9.38 million shares yesterday, thereby obliterating the daily average of 5.34 million by 176%.
— Average trading volume refers to a 21-day rolling average.