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:) 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 .
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.
New Low: McMoRan Exploration Co.
Oil and natural gas company McMoRan Exploration Co. (NYSE:) 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.
