News Corporation (NWS) Moves Lower on Volume Spike for October 02

News Corporation (NWS) Moves Lower on Volume Spike for October 02

News Corporation (NWS) traded on unusually high volume on Oct. 02, as the stock lost 1.03% to close at $13.39. On the day, News Corporation saw 1.1 million shares trade hands on 5,341 trades. Considering that the stock averages only a daily volume of 665,756 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 $17.70 and $12.70 over the last 52-weeks, its 50-day SMA is now $13.93, and its 200-day SMA $15.63. News Corporation has a P/B ratio of 0.84.

News Corp is a diversified media and information services company focused on creating and distributing authoritative and engaging content to consumers and businesses.

Headquartered in New York, NY, News Corporation has 28,000 employees and is currently under the leadership of CEO Robert Thomson.

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