Kansas City Southern, Santander Consumer USA Holdings Inc., Continental Resources, Inc. had the highest volumes yesterday.
A recap of yesterday's session: Leading equity indices in the US rose as S&P 500 ended the session at 3,678 after a 2.65% gain. Nasdaq closed the day at 10,676, having gained 3.43%.
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:
Kansas City Southern | 217% higher than rolling average Yesterday's slide leaves Kansas City Southern traders hoping for a bounce
With 40.65 million shares traded yesterday, Kansas City Southern beat its daily average by 217% to cap off a frenetic trading day. Kansas City Southern went down to $293.59, after ending Friday at $298.64. Overall, a 1.69% move or $5.05 yesterday.
The stock has been trending positively for about 9 months. Kansas City Southern's market cap is currently $26.71 billion with an average daily trading volume of 18.69 million shares. Kansas City Southern has a forecast of $761.57 million with an EPS of $2.16.
Santander Consumer USA | 228% higher than rolling average Santander Consumer USA maintains composure within $41.51 to $41.73 range
Santander Consumer USA outpaced its average daily trading volume (4.31 million) with 9.81 million shares traded yesterday. Santander Consumer USA closed a flat day of trading at $41.6 yesterday after ending Friday at $41.59.
Trading mostly sideways for 1 year, 3 months. So far in 2022, it has performed better than the Nasdaq by 49%. Santander Consumer USA is currently trading with a market cap of $12.73 billion with an average daily volume of 4.31 million shares. Santander Consumer USA expected revenue of $1.93 billion with an EPS of $1.4.
Continental Resources | 1,000% higher than rolling average Continental Resources gains 8.68% within $73.85 to $74.14 daily range
Trading volume peaked at 23.15 million shares yesterday, thereby obliterating the daily average of 2.28 million by 1,000%. Continental Resources topped out at $74.14 having ended yesterday at $74.14. However, despite early momentum, the stock gave up its gains to now trade at $74.14.
Continental Resources now trading 16.08% above its 3-month low of $42.68. So far in 2022 it has been beating the Nasdaq by 119.32%. Continental Resources's market cap currently stands at $26.91 billion with an average daily volume of 2.28 million shares. Continental Resources's last revenue report was $2.65 billion with an EPS of $3.47.
— Average trading volume refers to a 21-day rolling average.