Telecom Services Provider Vonage Holdings Corp. Traded on Unusually High Volume Today

There was a lot going on in the stock market today, and one stock that had investors talking was Vonage Holdings Corporation (NYSE:$VG).

Surprisingly, Vonage Holdings Corp. traded on unusually high volume on Wednesday, as the stock gained 1.69% to end the day at $8.42. During trading, Vonage Holdings Corp. witnessed 37.76 million shares trade hands on 48,623 trades. Seeing as the stock averages only a daily volume of 2.22 million shares a day over the last month, today’s results represent a significant bump in volume.

For the most part, when a stock undergoes a sudden spike in trading volume, investors may see it as a bullish signal. Why? Because an increase in volume tends to mean more market awareness for the company. Essentially, this has the ability to set up a more meaningful move in stock price. Additionally, the added volume provides a level of support and stability for future price advances.

In case you didn’t know, Vonage Holdings Corp. is a telecom services provider. The firm – based in Holmdel, New Jersey – provides unified communications, consisting of integrated text, video, voice, data, and mobile apps over a voice-over Internet Protocol network.

Featured Image: depositphotos/bartekjaworski

About the author: Caroline Harris is a third-year student at Capilano University in North Vancouver, Canada. Having already completed an Associates Degree in Psychology, Caroline is now finishing her Bachelor's degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, cryptocurrency, technology, and politics.