Sotheby’s (BID) Moves Higher on Volume Spike for December 14

Sotheby’s (BID) Moves Higher on Volume Spike for December 14

Sotheby’s (BID) traded on unusually high volume on Dec. 14, as the stock gained 1.67% to close at $37.67. On the day, Sotheby’s saw 938,763 shares trade hands on 9,231 trades. Considering that the stock averages only a daily volume of 545,962 shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $60.16 and $36.17 over the last 52-weeks, its 50-day SMA is now $41.38, and its 200-day SMA $49.86. Sotheby’s has a P/B ratio of 4.08. It also has a P/E ratio of 20.2.

Sothebys is a global art business based in the United States. Its operations are organized under two segments: agency and finance. The agency business provides an auction space or private sale arrangements for sellers and buyers of fine art, decorative art, wine, jewelry and collectibles. The finance segment provides financing activities for collectors and art dealers. Sotheby’s auction commissions include those paid by both buyer and seller, both of which are calculated as a percentage of the price of the property sold at auction. Sotheby’s private sale commissions are part of a legally binding agreement between Sotheby’s and the seller.

Headquartered in New York, NY, Sotheby’s has 1,662 employees and is currently under the leadership of CEO Thomas S. Smith.

error: Content is protected !!