Weekend wrap: Here are 6 NZX stocks that gained maximum volume

Summary 

  • The most traded stocks are the ones that are most active ones
  • They are most traded stocks as they reflect investors’ interest.
  • The price of the stock reflects the volumes and buys or sells on the stock.

The most traded stocks as the name suggests, show investors interest whether for buying or selling the stock. These stocks that have maximum volume reflect their liquidity and investors’ interest.  Since they reflect the maximum buys or sells on the stock, if buying exceeds the sells, the stock is seen to be in the green but if there is more selling as compared to buying, the stock is in the red.  The high volumes also reflect the liquidity in the stock. The price of the stock is also important to look at while seeing the volumes.

Let’s look at the most traded stocks on Friday:

Rakon Limited (NZX:RAK)

This telecommunications company was most traded on the NZX. its volumes were at 10,174, 873. The stock was trading flat at NZ$0.930. The Company announced its annual results and review recently in which it declared that it had performed better than expected and the precise timing was at the heart of the growth. The company had a strong performance in the telecommunications segment due to the  increase in demand for RAK’s 5G products, including solutions based on our Mercury+TM chip. The Companies designs for chips were a big hit at the time of pandemic when there was a global shortage for the same.

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Kiwi Properties (NZX:KPG)
The property group also reported high volumes at 9,783,492. The price of the stock was down by 0.42% at NZ$ 1.175. Recently, the Company announced its Green Bond offer and also held its annual shareholders meeting.


Also Read: Which were the most active 10 NZX stocks today?

ARgosy Property Limited (NZX:ARG)

ARG was also one of the most traded stocks on the NZX reporting volumes to the tune of 4,706,513 was trading up by 0.61% at NZ$ 1.670. Recently, it held its retail roadshow in which it announced that it managed its way through Covid-19, minimizing its impact of pandemic with high quality portfolio of diversifies properties.  It also reported strong leasing progress at 7WQ, and invest into green projects.

Wellington Drive Technologies Limited (NZX:WDT)
WDT also had strong volumes on Friday. It showed volumes to the tune of 2,092,684. The stock was down 0.81% at NZ$ 0.122. The Company announced recently said that WDT was experiencing strong customer demand showing in both new customers and revenues from new products and a strengthening of global economy. Wellington forecast US$ 45m to US$50m, up from the US$41m to US$46m.

Meridian Energy Limited (NZX:MEL)

MEL also traded high volumes of Friday. Its volumes were more than 1,93,201 and the stock was down by 1.21% at NZ$5.285. Meridian Energy Limited announced today that its annual meeting of shareholders will be held at 10 am on 6 October 2021 in Auckland. Yesterday, it made a very important announcement in that it is seeking to register to develop the world’s largest green hydrogen plant. The plant has the potential to help the New Zealand economy as well as help decarbonise economies in NZ as well overseas, according to a leading consultancy report.

Also Read: Meridian and Contact Energy join hands for ‘biggest’ green hydrogen plant

Air New Zealand Limited (NZX:AIR)

AIR reported high volumes on Friday. The trading volumes reported were 1,105,569. The price of the stock was down by 1.31% at NZ$1.505.  The stock was sold more due to the announcement made by the NZ government on Friday that the Trans-Tasman quarantine free travel bubble will be suspended tonight. The suspension is to be in place for the next eight weeks, after which time the decision will be reviewed. This will impact the operational figures of the company. AIR announced that it will respond to these changes and provide a further update on the same.

Also Read: How is Air NZ preparing for the busiest domestic travel amid winter season?

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