Take a look at the following large cap and over stocks that showed higher volumes than usual: Duke Realty Corp, CrowdStrike Holdings, Inc., First Horizon Corporation.
Here's an update with information from the last trading session: Markets were up yesterday; S&P 500 ended the session at 4,080 after a 3.09% gain. Nasdaq gained 4.41% and closed at 11,468.
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.
Price action was mostly bullish yesterday with some large cap and over stocks recording abnormally high trading volumes. Here's a recap:
Duke Realty closes at $48.2 after gaining 0.48% After 24 sombre days of declines, Duke Realty was up 0.48% yesterday
Duke Realty Corp rose 23 cents to close at $48.2 yesterday which makes for a move of 0.48%.
The US REIT has shed 18.94% over the past three months. So far in 2022, it has been under-performing the S&P by 7.33%. Duke Realty has a market cap of $18.56 billion Duke Realty's last revenue report was $280.15 million with an EPS of 27 cents.
CrowdStrike | 925% higher than rolling average CrowdStrike bounced $8.76 from 2 years low and closed at $117.65
Yesterday's trading volume peaked at 38.65 million shares, thereby blitzing the daily average of 4.18 million by 925%. After ending Tuesday at $138, CrowdStrike dropped to $108.89 early in yesterday's session and closed at $117.65. In total, it lost 14.75%.
CrowdStrike hit a significant low of $122.36 around 22 days ago, but has since recovered 12.78%. The company has a market cap of $25.28 billion with an average daily volume of 4.18 million shares.
CrowdStrike was down, even though its quarterly earnings released on Tuesday beat the analysts’ estimates. The reported earnings of -0.2 per share on revenue of $580.88 million, topping estimates of -0.23 per share on revenue of $573.9 million.
First Horizon Corporation | 1,100% above rolling average First Horizon Corporation hits new all-time high at $24.92
First Horizon Corporation outpaced its average daily trading volume (4.50 million) with 49 million shares traded yesterday. First Horizon Corporation ended Tuesday's session at $24.66. yesterday started with an increase to $24.92, but dropped back and closed at $24.85.
Having set a significant high of $24.77 11 months ago, the bank holding company is trading 61.81% lower. So far in 2022, it has performed better than the Nasdaq by 87.05%. First Horizon Corporation's market cap is currently $13.34 billion with an average daily trading volume of 4.50 million shares. First Horizon Corporation expected revenue of $827.66 million with an EPS of 44 cents.
— Average trading volume refers to a 21-day rolling average.