Activision Blizzard, Shaw Communications Inc., Rogers Communications Inc. and others reached higher-than-usual trading volumes.
A recap of yesterday's session: Markets completed a mixed session yesterday while Dow Jones lost 0.68% and ended the session at 33,300. S&P 500 shed 0.38% and closed at 4,056.
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 sideways yesterday, several communication_services stocks were actively traded. Here's an update:
Blizzard | 586% higher than rolling average
Trading volume peaked at 50 million shares yesterday, thereby obliterating the daily average of 8.53 million by 586%.
Blizzard hit a significant low of $71.1 around 5 months ago, but has since recovered 22%.
Blizzard is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 0.51 and the consensus revenue estimate is $1.79 billion.
Shaw Communications | 473% above rolling average
Shaw Communications outpaced its average daily trading volume (1.34 million) with 6.35 million shares traded yesterday.
The Canadian telecoms provider is up 24.68% from the significant low of $24 it hit 6 months ago. The stock has been trending positively for about a month. Shaw Communications has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58.
Shaw Communications discloses 7.2 cents per share dividend to be paid on Thursday, March 30th
Rogers Communication | 184% above rolling average
Rogers Communication hit a significant low of $37.05 around 6 months ago, but has since recovered 27.85%. The stock has been trending positively for about a month. Rogers Communication is currently trading with a market cap of $24.73 billion with an average daily trading volume of 374,109 shares.
With 689,416 shares traded yesterday, Rogers Communication beat its daily average by 184% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.