Top 4 Stocks About to Reach Their 52-Week High

A 52-week high is a technical indicator used by some of the world's top traders and investors to determine the current and future value of a stock. In this report we reveal today's top 4 stocks about to reach their 52-week highs.

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Jim Cramer Tells Investors To Stay Bullish Amid Current Market Uncertainties: 'Stocks Are Going Up On Rational Experience'

Benzinga Neuro
February 26, 2024

CNBC’s “Mad Money,” host Jim Cramer shared his insights on why investors should maintain a positive outlook on the current market. He pointed out specific companies that have outperformed Wall Street’s projections, offering a glimmer of hope amid market uncertainties.

What Happened: On Monday, Cramer highlighted the success stories of several companies, including Domino’s Pizza Inc (NYSE:DPZ) and Palo Alto Networks Inc (NASDAQ:PANW), reported CNBC.

Domino’s Pizza, despite the challenging economic environment, saw its stock rise by 5.85% following better-than-expected earnings. Cramer attributed this surge to investors underestimating the company’s resilience.

Palo Alto Networks, which had previously revised its annual guidance, experienced a 7.33% increase in its stock price. Cramer suggested that this rise could be linked to an ongoing security breach at UnitedHealth Group Inc. (NYSE:UNH).

He also emphasized the ability of companies to quickly adapt and reinvent themselves, citing the recent turnarounds of retailers such as Walmart Inc (NYSE:WMT), Ralph Lauren Corp (NYSE:RL), and Gap Inc (NYSE:GPS).

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“These moves are all signs that are emblematic, not of a bubble, but of companies doing much better than expected,” Cramer said.

“Stocks are going up on rational experience, they’re not going up on irrational, and they’re not going up on the dreaded multiple expansion, where people keep paying more for the same earnings.”

Why It Matters: Cramer’s insights come at a time when the market is experiencing a mix of optimism and caution. The market has seen a record-breaking rally in 2024, with some analysts suggesting that it could be the best year since 1999. However, this has also led to a shift in sentiment towards caution, with traders potentially pausing for a breather after last week’s robust gains.

Earlier in the year, Cramer had urged investors to capitalize on market anomalies for profitable investments, pointing out that the market had defied conventional wisdom over the past two years. He also advised investors to look beyond the Magnificent Seven tech stocks for potential high-yield investments.

During the first earnings season of 2024, Cramer also commended companies like NVIDIA Corp (NASDAQ:NVDA) and Amazon.com Inc (NASDAQ:AMZN) for their impressive financial reports, emphasizing the need for a longer-term vision in the market.

Wall Street exhibited a subdued trend to start the week, with major indices showing little change. The S&P 500 saw a marginal downtick, slipping by 0.38% to 5,069.53 points, reflecting a market holding its breath for clearer signals.

Read Next: Donald Trump’s Mar-a-Lago Co-Defendant Carlos De Oliveira Requests Dismissal Of Charges In Classified Document Case: Report

Image Via Shutterstock


Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote


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