Stocks hitting new 52 week highs on August 16 are Ebix Inc. Investors are buying the stock and pushing it higher because they may think that these stocks were undervalued. This could be a result of higher than expected earnings, overall market growth, or simply investor speculation.
Shares of Ebix Inc (EBIX) had a total return adjusted 52 week high today of $17.46 per share and are currently trading at $17.08. The stock fell by 2.12% or $-0.37/share to $17.08. The stock recorded a trading volume of 208216 today. This represents 0.66 times the average volume for Ebix Inc. Lower than average volume can mean the new high may not represent the stock's true value. Investors may want to watch out for this stock adjusting back down to its true value.
