Following yesterday's heightened trading volumes, Shaw Communications Inc., Tremor International Ltd, Roblox Corporation were the standout stocks.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Dow Jones ended the session at 34,000 after a 0.3% gain. S&P 500 closed the day at 4,151.32, having gained 0.33%.
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:
Shaw Communications | 473% above rolling average
Shaw Communications Inc. 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. The company's market cap currently stands at $14.94 billion with an average daily volume of 1.34 million shares.
Yesterday's trading volume was 6.35 million shares (surpassing the daily average by 473%).
Tremor International | 450% higher than rolling average
Tremor International outpaced its average daily trading volume (92,790) with 417,877 shares traded yesterday.
The advertising-technology company is up 12.92% from the significant low of $5.11 it hit 21 days ago. Tremor International has posted further gains as part of a 14 day trend that has already seen the stock gain 66 cents.
Roblox | 328% higher than rolling average
Roblox outpaced its average daily trading volume (10 million) with 33 million shares traded yesterday.
This year has been a bright one for the game maker after trading as low as $23.19 and going on to appreciate by 37.07% year to date. Over the last 6 days, Roblox has fallen 13.4%.
— Average trading volume refers to a 21-day rolling average.