Stocks hitting new 52 week highs on May 10 are The Spectranetics Corporation, Retail Opportunity Investments Corp, H. J. Heinz Company, The Valspar Corporation, and Pinnacle West Capital Corporation. 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 The Spectranetics Corporation (SPNC) had a total return adjusted 52 week high today of $10.95 per share and are currently trading at $11.00. The stock traded higher by 2.90% or $0.31/share to $11.00. The stock recorded a trading volume of 153858 today. This represents 2.28 times the average volume for The Spectranetics Corporation. 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 Retail Opportunity Investments Corp (ROIC) had a total return adjusted 52 week high today of $12.65 per share and are currently trading at $12.44. The stock fell by 0.88% or $-0.11/share to $12.44. The stock recorded a trading volume of 78867 today. This represents 0.6 times the average volume for Retail Opportunity Investments Corp. 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 H. J. Heinz Company (HNZ) had a total return adjusted 52 week high today of $54.33 per share and are currently trading at $54.67. The stock traded higher by 1.36% or $0.73/share to $54.67. The stock recorded a trading volume of 1425396 today. This represents 1.62 times the average volume for H. J. Heinz Company. 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 The Valspar Corporation (VAL) had a total return adjusted 52 week high today of $52.12 per share and are currently trading at $52.45. The stock traded higher by 1.57% or $0.81/share to $52.45. The stock recorded a trading volume of 364680 today. This represents 1.15 times the average volume for The Valspar Corporation. 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 Pinnacle West Capital Corporation (PNW) had a total return adjusted 52 week high today of $48.49 per share and are currently trading at $48.82. The stock traded higher by 1.58% or $0.76/share to $48.82. The stock recorded a trading volume of 572028 today. This represents 2.06 times the average volume for Pinnacle West Capital Corporation. 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.
