While some of the best-known Nasdaq-100 tech and social media stocks struggle to make higher highs — Apple
Abercrombie & Fitch
There’s also the short float at 17%. That’s a relatively high percentage for an NYSE-listed equity with a market capitalization of $3.34 billion. That short sellers are being forced to cover (i.e. “buy”) may be a factor in that stock’s continued move to the upside.
Abercrombie and Fitch is being sued over alleged facilitation of sexual abuse involving its male models by former Chief Executive Officer Mike Jeffries who left in 2014 after 22 years with the company. The lawsuit was filed Friday, October 27th — how much it affects the retail apparel firm remains to be seen.
Here’s the daily price chart:
Hilton Worldwide Holdings today broke above the August and September highs and hit just over $157 before selling took over. The daily price chart below shows how the price remains above the 50-day moving average (the blue line) and the 200-day moving average, both of which trend upward.
This year’s earnings are up by 24.49% and a quarterly report recently exceeded the expectations of analysts. With a market cap of $40.09 billion, the big hotel company in late October received a “buy” rating from HSBC Securities which initiated analyst coverage with a price target of $191.
Motorola Solutions last week reported 3rd quarter earnings that exceeded expectations and the stock gapped up Friday and then continued the run even higher today. The stock broke out of a trading range that had been keeping it tight from May through last month.
Bank of America
Those are 4 name brands making new highs this week and none of them are components of the Nasdaq-100, just for the record.