Stocks Hitting 52-Week Highs (ALGT, AGNC, LOPE, ROCM, RGLD)
December 23, 2008 by Douglas A. McIntyre
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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