Take a look at the following communication_services stocks that showed higher volumes than usual: Pearson plc, Warner Music Group Corp., Bilibili Inc..
A quick recap of where the last trading session ended: Markets had an interesting day Friday; S&P 500 ended the session at 4,045.64 after a 1.61% gain. Nasdaq closed the day at 11,700, having gained 1.97%.
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 Friday with some communication_services stocks recording abnormally high trading volumes. Here's a recap:
Pearson Plc | 250% higher than rolling average
So far this year, the world's largest education company has declined 5.82% while touching highs around $12 earlier this year. Trending downwards for around a month. Currently, the world's largest education company has a market capitalization of $7.57 billion with an average daily volume of 387,582 shares.
Trading volume peaked at 970,241 shares Friday, thereby obliterating the daily average of 387,582 by 250%.
Warner Music | 178% higher than rolling average
Warner Music outpaced its average daily trading volume (1.41 million) with 2.51 million shares traded Friday.
Warner Music hit a significant low of $22.35 around 4 months ago, but has since recovered 39.46%. On a negative trend for around 29 days. While Warner Music was in the midst of a 7 day downtrend— in which it lost a total of 3.43%—
Warner Music discloses 16 cents per share dividend to be paid on Wednesday, March 1st
Bilibili | 208% above rolling average
Bilibili outpaced its average daily trading volume (7.93 million) with 16.53 million shares traded Friday.
Bilibili hit a significant low of $8.92 around 4 months ago, but has since recovered 141.82%. Bilibili has posted further gains as part of a 4 day trend that has already seen the stock gain $2.27.
— Average trading volume refers to a 21-day rolling average.