There are still some stocks doing extremely well despite all the interests outside against ythe economy. Allegiant Travel Co. (NASDAQ: ALGT), American Capital Agency Corp. (NASDAQ: AGNC), Grand Canyon Education, Inc. (NASDAQ: LOPE), Rochester Medical Corporation (NASDAQ: ROCM), and Royal Gold (NASDAQ: RGLD) are all either on 52-week or all-time highs. Here is a synopsis on each:
Allegiant Travel Co. (NASDAQ: ALGT) shares hit $47.45 before sellingoff back under the prior 52-week high of $47.34. Trading volume isstill under 100,000 shares, and it normally trades 344,000 shares perday. This is a 200% gain from its 52-week lows. If we told you acouple months ago that a a leisure travel company which providesscheduled passenger services from small cities to leisure destinationswould be at 52-week highs, would you have believed it?
American Capital Agency Corp. (NASDAQ: AGNC) is another strange leaderafter it declared a $1.20 dividend last week. This is a REIT thatinvests in mortgages, but many of its mortgages have governmentguarantees. This is at $21.85, above its $21.69 prior high and almosta double off its lows.
Grand Canyon Education, Inc. (NASDAQ: LOPE) barely put in a new high of$17.73, only a penny above its post-IPO high. While education issupposed to do well, this IPO has done much better than most would haveguessed based on its pre-IPO coverage.
Rochester Medical Corporation (NASDAQ: ROCM) is apparently one of themedical device makers that is recession-proof and an Obama-friendlycompany. It develops, manufactures, and markets urinary continence andurine drainage care products. At $15.20, its 52-week range was $9.03to $14.98.
Royal Gold, Inc. (NASDAQ: RGLD) is at it again. We spoke with the company,and it seems that traders are buying this up over its future prospectson new properties it recently acquired.
Jon C. Ogg
December 23, 2008
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