Investing

Rare 52-Week Highs During Weak Market (FUN, LNG, HITK, MGAM, SPPI, TASR)

Outside of those crazy inverse and negative-inverse ETFs, it is odd when you see non-M&A stocks hitting 52-week highs during a multi-day broad market sell-off.  This is a time when investors are skittish over international news out of Europe ahead of a time when most market participants are taking a 4-day or even 5-day holiday.  Still, here are a few…

Cedar Fair L.P. (NYSE: FUN) hit a year high of $22.78 today and shares are up1.4% at $23.40.  Jim Cramer touted this one on Monday evening as having no real Europe and international exposure.

Cheniere Energy, Inc. (AMEX: LNG) is surging on news of its new 20-year supply pact.  While shares are “only” up 3.4% at $11.87 on double the normal volume.

Hi-Tech Pharmacal Co., Inc. (NASDAQ: HITK) hit a $39.50 year high today and shares are currently up 4.4% at $39.39.

Multimedia Games Inc. (NASDAQ: MGAM) is up 3.75% at $7.20 and the stock hit a high of $7.24 after earnings.

Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI) is up 2.5% again at $13.17 and shares hit a new high of $13.22 on continued interest after yesterday’s news that the FDA simplified the approval for Zevalin.

Taser International, Inc. (NASDAQ: TASR) hit a year high of $6.11 today and shares are up 2.9% at $6.04 in mid-day trading.

JON C. OGG