Frontier Communications Corporation (NYSE: FTR) is still on the most actives list for Volume Spike investors. We have a 200% volume alert for a full trading day, yet there are not even two hours of trading since the market opened at 9:30 AM EST. This looks huge but is actually lower than the last two days. The problem is that today’s volume is light when you consider how much traded last week on what was otherwise a rather quiet trading period:
- JULY 2… 49,167,100 shares; $7.35 close.
- JULY 1… 30,407,200 shares; $7.69 close.
- JUNE 30… 12,362,300 shares; $7.11 close.
At 11:24 AM EST, FTR is down 2.45% at $7.17 on 17.7 million shares. The 52-week range is $6.43 to $8.57 and the average trading volume is almost 6.4 million shares.
Just last week, the company closed on its $5.3 billion acquisition of phone lines in 14 states belonging to Verizon.
JON C. OGG
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