Stocks hitting new 52 week highs on May 23 are Progress Energy Inc, Copart, Inc, Hawaiian Electric Industries Inc, TripAdvisor Inc, and Wal-Mart Stores 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 Progress Energy Inc (PGN) had a total return adjusted 52 week high today of $55.12 per share and are currently trading at $54.71. The stock fell by 0.22% or $-0.12/share to $54.71. The stock recorded a trading volume of 507798 today. This represents 0.55 times the average volume for Progress Energy 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 Copart, Inc (CPRT) had a total return adjusted 52 week high today of $26.85 per share and are currently trading at $26.58. The stock fell by 0.75% or $-0.20/share to $26.58. The stock recorded a trading volume of 127699 today. This represents 0.64 times the average volume for Copart, 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 Hawaiian Electric Industries Inc (HE) had a total return adjusted 52 week high today of $26.79 per share and are currently trading at $26.53. The stock fell by 0.90% or $-0.24/share to $26.53. The stock recorded a trading volume of 268858 today. This represents 1.66 times the average volume for Hawaiian Electric Industries 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 TripAdvisor Inc (TRIP) had a total return adjusted 52 week high today of $44.45 per share and are currently trading at $43.60. The stock traded higher by 2.29% or $0.98/share to $43.60. The stock recorded a trading volume of 854217 today. This represents 1.06 times the average volume for TripAdvisor 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 Wal-Mart Stores Inc (WMT) had a total return adjusted 52 week high today of $63.95 per share and are currently trading at $63.76. The stock traded higher by 0.05% or $0.03/share to $63.76. The stock recorded a trading volume of 5229395 today. This represents 1.27 times the average volume for Wal-Mart Stores 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.
