The highest volumes today go to: Zynga Inc., Just Eat Takeaway.com N.V., Twitter Inc.
Here's the most recent update: The leading indices are pointing up — Dow Jones up to 34,100, gaining 1.16%. S&P 500 up 1.22%, trading at 3,998.25.
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.
While trading was mostly up yesterday, some communication services stocks have high volumes. Take a look.
227.57 million traded volume exceeded the daily average by 600%: Zynga sheds 2.04%; sets session low of $8.14
Zynga Inc. is having an eventful day so far, currently at 227.57 million and outpacing its average daily volume by 600%. Zynga has been losing ground for 8 days, shedding a total of 3.42% of its value. more of the same today: Zynga is down to $8.18, after ending yesterday at $8.35. Overall, a 2.04% loss or 17 cents today.
Having set a significant high of $9.27 11 months ago, the video game developer is trading 44.71% lower. So far in 2022 it has been beating the Nasdaq by 68.05%. With an average daily volume of 37.88 million shares. $694.9 million was Zynga's last reported revenue with 9.19 cents being the current EPS.
9.44 million traded volume exceeded the daily average by 1,883%: Muted session threatens to disturb Takeaway.com's ongoing uptrend
A blockbuster trading session for Takeaway.com, eclipsing its average daily volume by 1,883% and recording 9.44 million. In the midst of a 3 day bullish trend, today's session might suggest a slow down — as the end of the trading session approaches, the food delivery business is trading around $6.72 after having ended yesterday at $6.72.
Eclipsing the average by 232%: Full steam ahead for Twitter as 5 days uptrend continues
Twitter is having an eventful day so far, currently at 75.14 million and outpacing its average daily volume by 232%. Twitter displays further gains following a recent trend of 5 days and $3.46. this session seems to remain in the same lane for now — after closing the previous trading day at $53.35, Twitter is up to $53.7, which makes for a move of 0.66%/35 cents today.
The past 3 months have been positive for the social networking giant as it added 25.06% compared to its 3-month low of $32.42. So far in 2022, it has been outperforming the S&P by 47.52%. Twitter's market cap is currently $41 billion with an average daily volume of 32.43 million shares. Twitter is forecasted to generate revenues of $1.26 billion and EPS of 1 cents.
— Average trading volume refers to a 21-day rolling average.