Perion Network Ltd., Baidu Inc, DISH Network Corp and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Dow Jones closed the day at 32,245, having gained 1.2%. S&P 500 ended the session at 3,951.57 after a 0.89% 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 yesterday with some communication_services stocks recording abnormally high trading volumes. Here's a recap:
Perion | 154% higher than rolling average
Perion Network Ltd. outpaced its average daily trading volume (730,823) with 1.13 million shares traded yesterday.
Baidu | 142% above rolling average
The company's market cap currently stands at $51.89 billion with an average daily volume of 4.17 million shares.
Baidu outpaced its average daily trading volume (4.17 million) with 5.91 million shares traded yesterday.
Dish Network | 123% slightly greater than rolling average
Trading volume peaked at 8.78 million shares yesterday, thereby obliterating the daily average of 7.17 million by 123%.
Over the last 5 days, DISH has fallen 20.72%.
— Average trading volume refers to a 21-day rolling average.