WEX Inc. (WEX) Moves Higher on Volume Spike for November 15

WEX Inc. (WEX) Moves Higher on Volume Spike for November 15

WEX Inc. (WEX) traded on unusually high volume on Nov. 15, as the stock gained 2.35% to close at $161.43. On the day, WEX Inc. saw 801,718 shares trade hands on 7,054 trades. Considering that the stock averages only a daily volume of 440,323 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 $203.50 and $118.40 over the last 52-weeks, its 50-day SMA is now $185.06, and its 200-day SMA $175.96. WEX Inc. has a P/B ratio of 3.78. It also has a P/E ratio of 31.8.

WEX Inc is a provider of corporate payment solutions. It operates through Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions.

Headquartered in South Portland, ME, WEX Inc. has 3,300 employees and is currently under the leadership of CEO Melissa D. Smith.

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