Walmart Inc. (WMT) traded on unusually high volume on Oct. 09, as the stock gained 2.52% to close at $97.08. On the day, Walmart Inc. saw 11.57 million shares trade hands on 85,181 trades. Considering that the stock averages only a daily volume of 6.77 million 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 $109.98 and $79.40 over the last 52-weeks, its 50-day SMA is now $93.83, and its 200-day SMA $90.65. Walmart Inc. has a P/B ratio of 3.99. It also has a P/E ratio of 54.1.
Walmart Inc operates retail stores in various formats under various banners. Its operations comprise of three reportable business segments, Walmart U.S., Walmart International and Sam’s Club in three categories retail, wholesale and others.
Headquartered in Bentonville, AR, Walmart Inc. has 2.3 million employees and is currently under the leadership of CEO C. Douglas McMillon.