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8×8 Inc (EGHT) traded on unusually high volume on Jul. 12, as the stock gained 5.35% to close at $21.65. On the day, 8×8 Inc saw 1.82 million shares trade hands on 12,527 trades. Considering that the stock averages only a daily volume of 1.03 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 $23.05 and $10.30 over the last 52-weeks, its 50-day SMA is now $20.35, and its 200-day SMA $17.15. 8×8 Inc has a P/B ratio of 9.21.
8×8 Inc is a technology company. It provides cloud-based, enterprise-class software solutions that transform the way businesses communicate and collaborate globally. The company operates through two segments: America and Europe.
Headquartered in San Jose, CA, 8×8 Inc has 1,225 employees and is currently under the leadership of CEO Vikram Verma.
For a complete fundamental analysis analysis of 8×8 Inc, check out Equities.com’s Stock Valuation Analysis report for EGHT.
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All data provided by QuoteMedia and was accurate as of 4:30PM ET.
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