Stocks hitting new 52 week highs on January 3 are Cyberonics Inc, Colonial Properties Trust, Laredo Petroleum Holdings, Inc, Standard Motor Products Inc, and Google 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 Cyberonics Inc (CYBX) had a total return adjusted 52 week high today of $34.43 per share and are currently trading at $34.08. The stock traded higher by 1.73% or $0.58/share to $34.08. The stock recorded a trading volume of 193669 today. This represents 2.59 times the average volume for Cyberonics Inc. Higher than average volume can sometimes signal a technical breakout or perhaps that new information was released about the company. Volume is often used as a lie detector and high volume gives validity to the price move. Stay tuned for more updates on the company and investors may want to look for this momentum to continue.
Shares of Colonial Properties Trust (CLP) had a total return adjusted 52 week high today of $21.18 per share and are currently trading at $21.43. The stock traded higher by 2.73% or $0.57/share to $21.43. The stock recorded a trading volume of 462502 today. This represents 1.41 times the average volume for Colonial Properties Trust. Higher than average volume can sometimes signal a technical breakout or perhaps that new information was released about the company. Volume is often used as a lie detector and high volume gives validity to the price move. Stay tuned for more updates on the company and investors may want to look for this momentum to continue.
Shares of Laredo Petroleum Holdings, Inc (LPI) had a total return adjusted 52 week high today of $22.31 per share and are currently trading at $22.04. The stock fell by 1.17% or $-0.26/share to $22.04. The stock recorded a trading volume of 191397 today. This represents 0.58 times the average volume for Laredo Petroleum Holdings, 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.
Shares of Standard Motor Products Inc (SMP) had a total return adjusted 52 week high today of $20.87 per share and are currently trading at $21.25. The stock traded higher by 5.96% or $1.20/share to $21.25. The stock recorded a trading volume of 97948 today. This represents 1.2 times the average volume for Standard Motor Products Inc. This is considered normal volume for the stock which means the new high is most likely caused by a steady uptrend. Expect the stock to continue its upward trend. A pullback could be a great opportunity to get onboard.
Shares of Google Inc (GOOG) had a total return adjusted 52 week high today of $646.77 per share and are currently trading at $661.65. The stock traded higher by 2.44% or $15.76/share to $661.65. The stock recorded a trading volume of 1521678 today. This represents 1.18 times the average volume for Google Inc. This is considered normal volume for the stock which means the new high is most likely caused by a steady uptrend. Expect the stock to continue its upward trend. A pullback could be a great opportunity to get onboard.
