As per the NYSE Most Active Stocks database of Wall Street Journal, Bank of America Corp (NYSE:BAC), Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), and Twitter Inc (NYSE:TWTR) were the most active stocks of the last week. Each of these stocks was traded in large volumes because of one or the other reasons.
Bank of America Corp (NYSE:BAC) was the most active stock with total trade volume of 317,165,577 for the week. The trades were highest on Monday (87,798,031) and declined gradually until the end of the week, Friday (48,606,732). According to an analysis by TheStreet, the Bank of America Corp (NYSE:BAC) certainly has “Buy” rating because of its high gross profit margin (86.47%). Bank of America Corp (NYSE:BAC) was able to outperform the industry average of 11.7% with an improvement in its returns on equity.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) was among the most active stocks of the week with a trade volume of 163,940,234 throughout the week. According to a trader working with Geraldo Correa (brokerage firm), Sandro Fernandes, primary reason for acceleration in stock prices was the current political environment of the country. However, there are some other reasons for the sudden jump in Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR)’s stock including its agreement with Foro Energy under which, Petroleo will get high-power lasers for drilling. It will help them company improve their efficiency and offer better results.
Twitter Inc (NYSE:TWTR) was the third most active stock of the week with trade volumes reaching 136,988,023. There are a dozen reasons out of which the stock has seen such high trade volumes starting with its more-than-expected earnings for the quarter, where the company reported non-GAAP EPS of two cents against an estimated 1-cent loss. Further, the company is all set to start its own e-commerce platform and Twitter Inc (NYSE:TWTR) will collaborate with Stripe, online payment processor, for carrying out its transactions.
On top of these measures, Twitter Inc (NYSE:TWTR) announced its plan to expand its ad network to 12 different countries, primarily in eastern and central Europe. All of these factors altogether sent the companies share skyrocketing with heavy trade volume.
This article has been written by Prakash Pandey.