Shaw Communications Inc., Snap Inc., Meta Platforms led the pack during yesterday's heightened trading volumes.
Here's an update with information from the last trading session: Leading equity indices in the US rose as S&P 500 gained 1.96% and closed at 4,135.35. Dow Jones ended the session at 33,826 after a 1.57% 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:
Shaw Communications | 473% higher than rolling average
Shaw Communications Inc. has posted further gains as part of a 17 day trend that has already seen the stock gain $1.58. Yesterday's session pointed in the same direction — Shaw Communications climbs 0.9% to close at $30.18 yesterday.
Shaw Communications had a compelling day yesterday, with 6.35 million shares traded helping the company surpass its average daily volume by 473%.
Snap | 354% above rolling average
The US camera and social media company has fallen back around 67.24% from the significant high of $30.16 set 11 months ago. On a negative trend for around a month. The US social media platform's market cap currently stands at $16.60 billion with an average daily trading volume of 26.82 million shares.
Yesterday's trading volume was 94.90 million shares (surpassing the daily average by 354%).
Meta | 314% above rolling average
Meta outpaced its average daily trading volume (22.54 million) with 70.69 million shares traded yesterday.
The social media colossus reached a significant high of $238.56 around a day ago but has lost 12.22% since then. Facebook has posted further gains as part of a 3 day trend that has already seen the stock gain $1.85.
— Average trading volume refers to a 21-day rolling average.