Just because a stock has hit a new 52-week high doesn’t mean it can’t go on to loftier levels. Sometimes, stocks will even pull back a little bit before resuming their run-ups again.
We asked three Motley Fool investors to identify a value stock that recently hit a new high. They chose Amgen (NASDAQ: AMGN), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), and Avis Budget Group (NASDAQ: CAR), and tell us why these company’s stocks, which have receded from those peaks, shouldn’t be able to hit new highs.