Vodafone Group Plc, Twilio Inc., Perion Network Ltd. had the highest volumes yesterday.
A quick recap of where the last trading session ended: Markets closed higher yesterday, as Dow Jones ended the session at 34,246 after a 1.11% gain. S&P 500 closed the day at 4,137.29, having gained 1.14%.
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:
Vodafone Group | 293% above rolling average
The iconic telecoms provider has managed to gain 13.44% so far this year despite trading at lows around $10.06 previously. The stock has been trending positively for about a month. The iconic telecoms provider's market cap currently stands at $31.70 billion with an average daily volume of 7.65 million shares.
With 22.39 million shares traded yesterday, Vodafone Group beat its daily average by 293% to cap off a frenetic trading day.
Twilio | 248% higher than rolling average
Twilio outpaced its average daily trading volume (3.71 million) with 9.21 million shares traded yesterday.
Having set a significant high of $199.37 11 months ago, the communication tools developer is trading 69.87% lower. The stock has been trending positively for about a month. During a 5 day fall, dropping a total of 3.49%, ($3.47),
Twilio is scheduled to announce earnings results tomorrow. The consensus EPS estimate is -0.96 and the consensus revenue estimate is $972.35 million.
Perion | 124% slightly greater than rolling average
With 1 million shares traded yesterday, Perion beat its daily average by 124% to cap off a frenetic trading day.
Approximately 12 days ago, the Israel-based technology company reached a significant high of $34 but has struggled to hold onto its gains and declined 6.76% since then. The stock has been trending positively for about a month. Perion has posted further gains as part of a 4 day trend that has already seen the stock gain 99 cents.
— Average trading volume refers to a 21-day rolling average.