Twenty-First Century Fox Inc., Fiverr International Ltd., NetEase led the pack during yesterday's heightened trading volumes.
Here's an update with information from the last trading session: Markets were up yesterday; Nasdaq ended the session at 11,600 after a 0.72% gain. S&P 500 closed the day at 4,012.32, having gained 0.53%.
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:
Twenty-First Century Fox | 247% higher than rolling average
This year has been a bright one for the US entertainment company after trading as low as $26.57 and going on to appreciate by 18.38% year to date. The stock has been trending positively for about 2 months. The company's market cap currently stands at $18.76 billion with an average daily volume of 1.16 million shares.
Twenty-First Century Fox outpaced its average daily trading volume (1.16 million) with 2.85 million shares traded yesterday.
Fiverr International | 158% above rolling average
The freelancer enabler has managed to gain 44.2% so far this year despite trading at lows around $26.46 previously. The company is currently trading with a market cap of $1.58 billion with an average daily trading volume of 810,370 shares.
Fiverr International outpaced its average daily trading volume (810,370) with 1.28 million shares traded yesterday.
NetEase | 243% above rolling average
NetEase hit a significant low of $55.41 around 3 months ago, but has since recovered 55.3%. The company has a market cap of $54.44 billion with an average daily volume of 1.46 million shares.
Trading volume peaked at 3.54 million shares yesterday, thereby obliterating the daily average of 1.46 million by 243%.
— Average trading volume refers to a 21-day rolling average.