Shares of Continental Resources, Inc. (NYSE:CLR) are experiencing unusual volume during today’s trading. While the stock price moved along with the volume change, shares are touching $58.43 at the time of writing. The day’s total volume of 8902285 this morning is in contrast from the three-month daily average of 2839.52K. When we divide the current volume by the three-month average volume, we get a relative volume of 4.98.
The difference between yesterday’s closing price and today’s opening price was 14.40%.
Why is this important?
Trading volume is a hugely important consideration for any investor. By watching how many shares are trading hands and looking for any changes in that activity, trading opportunities can be spotted along with a deeper understanding of the reliability of other indicators on the stock. A significant increase in trading volume means that more than double the average amount of stocks are moving. When volume is decreased significantly, it may indicate there is an issue that shareholders should watch out for. It’s also important to take into consideration how long the unusual volume sustains for. If it’s only the one trading day, it can be dismissed as an anomaly.
Continental Resources, Inc. (NYSE:CLR)‘s market cap, the total dollar value of all of their outstanding shares, is 17681.56m. Including today’s unusual volume, Continental Resources, Inc.‘s stock is performing at 105.44% on the year. For the week, the stock is performing -12.05%. Over the past month the firm’s stock is -6.22%, -5.73% for the last quarter, 11.29% for the past six-months and 30.06% for the last year.
Current levels places Continental Resources, Inc. (NYSE:CLR)’s stock about 6.10% from the 50-day high and 33.31% away from the 50-day low.
Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.