Stocks hitting new 52 week highs on June 28 are Smart Balance, Inc, American Capital Agency Corp, PDL BioPharma, Inc, Meritage Homes Corporation, and Innophos Holdings 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 Smart Balance, Inc (SMBL) had a total return adjusted 52 week high today of $9.45 per share and are currently trading at $9.14. The stock fell by 3.33% or $-0.31/share to $9.14. The stock recorded a trading volume of 201531 today. This represents 1.95 times the average volume for Smart Balance, 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 American Capital Agency Corp (AGNC) had a total return adjusted 52 week high today of $32.95 per share and are currently trading at $32.99. The stock traded higher by 0.12% or $0.04/share to $32.99. The stock recorded a trading volume of 1467781 today. This represents 1.17 times the average volume for American Capital Agency Corp. 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 PDL BioPharma, Inc (PDLI) had a total return adjusted 52 week high today of $6.61 per share and are currently trading at $6.61. The stock traded higher by 0.46% or $0.03/share to $6.61. The stock recorded a trading volume of 443961 today. This represents 1.26 times the average volume for PDL BioPharma, 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 Meritage Homes Corporation (MTH) had a total return adjusted 52 week high today of $32.38 per share and are currently trading at $31.62. The stock fell by 1.80% or $-0.58/share to $31.62. The stock recorded a trading volume of 142049 today. This represents 1.04 times the average volume for Meritage Homes 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 Innophos Holdings Inc (IPHS) had a total return adjusted 52 week high today of $53.90 per share and are currently trading at $53.75. The stock traded higher by 0.17% or $0.09/share to $53.75. The stock recorded a trading volume of 30289 today. This represents 0.65 times the average volume for Innophos 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.
