Autodesk Inc. (ADSK) Moves Lower on Volume Spike for October 05

Autodesk Inc. (ADSK) Moves Lower on Volume Spike for October 05

Autodesk Inc. (ADSK) traded on unusually high volume on Oct. 05, as the stock lost 0.07% to close at $152.00. On the day, Autodesk Inc. saw 3.24 million shares trade hands on 29,501 trades. Considering that the stock averages only a daily volume of 2.02 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 $159.94 and $101.55 over the last 52-weeks, its 50-day SMA is now $144.47, and its 200-day SMA $130.34. Autodesk Inc. has a P/B ratio of -136.94.

Autodesk Inc is engaged in the software industry. It develops software for a number of markets such as construction and media.

Headquartered in San Rafael, CA, Autodesk Inc. has 8,800 employees and is currently under the leadership of CEO Andrew Anagnost.

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