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:
Shares of Internet auction giant eBay (NASDAQ:EBAY) 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.
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. Payments volume for PayPal soared on Cyber Monday as well, increasing 196% year-over-year.
Oil and natural gas company McMoRan Exploration Co. (NYSE:MMR) 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.
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