Stocks at New Highs, New Lows for 11/27

by Alyssa Oursler | November 27, 2012 9:59 am

Here’s one stock hitting a 52-week high and one finding a 52-week low today:

New High: eBay

Shares of Internet auction giant eBay (NASDAQ:EBAY[1]) have climbed around 7% in the last five days, sending the stock to not just a new 52-week high, but nearly an eight-year high. The current price-tag over $51 makes for a whopping 70% increase from EBAY’s $30 share price at the start of 2012.

Investors sent the stock upwards to the tune of 5% gains yesterday alone, probably in correlation with Cyber Monday — the biggest online shopping day of the years. Sales increased more than 25% year-over-year based on an early report[2].

Of course, eBay has also made itself more than just an online garage sale. The company is moving fast into the payments world with its PayPal division, for example — a large reason for the company’s strong third-quarter numbers[3]. Payments volume for PayPal soared on Cyber Monday as well, increasing 196% year-over-year.

New Low: McMoRan Exploration Co.

Oil and natural gas company McMoRan Exploration Co. (NYSE:MMR[4]) released an update on its Gulf Coast ultradeep drilling today and sent investors fleeing. The result was a 20% plummet this morning that sent MMR to a new 52-week low.

Shares are currently trading around $7.70 — around half of their price-tag back in January.

The stock — which has been quite volatile over the last year — was also recently downgraded by analysts at RBC Capital, being changed from “outperform” to “sector perform.

As of this writing, Alyssa Oursler did not own a position in any of the aforementioned companies.

Endnotes:
  1. EBAY: http://studio-5.financialcontent.com/investplace/quote?Symbol=EBAY
  2. based on an early report: http://techcrunch.com/2012/11/26/ibm-cyber-monday-sales-are-already-up-24-percent-iphone-driving-most-traffic-to-retail-sites/
  3. strong third-quarter numbers: http://investorplace.com/2012/10/find-mobile-profits-on-ebay/
  4. MMR: http://studio-5.financialcontent.com/investplace/quote?Symbol=MMR

Source URL: http://investorplace.com/2012/11/stocks-at-new-highs-new-lows-for-1127/
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