Take a look at the following communication_services stocks: Pinterest, Inc., Shaw Communications Inc., Altice USA, Inc. and others showed higher volumes than usual.
Friday's session summary: Leading equity indices in the US rose as Dow Jones closed the day at 34,100, having gained 0.8%. S&P 500 ended the session at 4,169.48 after a 0.83% gain.
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:
Pinterest | 544% above rolling average
Trading volume peaked at 62.92 million shares Friday, thereby obliterating the daily average of 11.57 million by 544%.
The social media service has shed 9.67% over the past three months. Over the last 10 days, Pinterest has fallen 19.64%.
Shaw Communications | 473% above rolling average
Friday's trading volume peaked at 6.35 million shares, thereby blitzing the daily average of 1.34 million by 473%.
Shaw Communications hit a significant low of $24 around 6 months ago, but has since recovered 24.68%. 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
Altice USA | 475% higher than rolling average
Altice USA has posted further gains as part of a 3 day trend that has already seen the stock gain 33 cents. Friday's session pointed in the same direction — the US cable television provider rallied 17.45% and maintained $3.5.
Trading volume was 20.38 million shares Friday — beating the daily average by a mammoth 475%.
— Average trading volume refers to a 21-day rolling average.