Here’s one stock hitting a 52-week high and one finding a 52-week low today:
New High: Cree
Shares of Cree (NASDAQ:CREE) gained nearly 5% by mid-morning, sending the stock to a new 52-week high just under $35 That’s a nearly 60% gain from CREE’s $22 price-tag at the start of the year.
The reason for today’s jump? The introduction of a new lightbulb: the XLamp XM-L2 LED. The innovation, which is now available commercially, is the industry’s brightest and highest performing single-die LED, according to a press release this morning. It provides double the lumens-per-dollar and 20% more lumens-per-watt compared to the original model.
CREE also got an 8% boost in late October after reporting an earnings beat. The company reports again on Jan. 22.
New Low: Houston American Energy Corp.
Houston American Energy Corp. (NYSE:HUSA), on the other hand, made not-so-hot headlines with news that it is plugging and abandoning the Zorro Gris #1 well. Investors abandoned the stock in turn, sending it down nearly 58% this morning alone.
Year-to-date, the company has lost nearly 98% of its value. It is now trading at a new low of just over 20 cents, as opposed to a 52-week high of almost $15. Things began going downhill back at the start of March.
The company has missed earnings estimates the last three quarters: by 1 cent when it reported in May, by 58 cents when it reported in August and by 11 cents most recently.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.