Five Stocks That Hit 52-Week Highs on Monday

GrubHub Spikes

Despite potential competition from Uber and other competitors with more resources, GrubHub Inc (NYSE:GRUB)’s shares touched a 52-week high on Monday before retreating shortly after. Given the lack of fundamental news concerning the company, GrubHub Inc (NYSE:GRUB)’s shares likely rallied due to purchases from trend followers and momentum chasers. Shares of the stock are comfortably above key moving averages and have gained 65% year-to-date. Of the around 750 elite funds we track, 25 funds owned shares of GrubHub Inc (NYSE:GRUB) at the end of the second quarter, up by two funds from the previous quarter.

Momo Bulls Feeling the Love

Momo Inc (ADR) (NASDAQ:MOMO) bulls had a good day yesterday after the stock soared to an all-time high. Although the Chinese economy has slowed down, many Chinese tech stocks listed in the U.S. have done well. Helping the sentiment in the sector was the publication of a recent New York Times article that said ‘China, not Silicon Valley, is cutting edge in mobile tech’. Also potentially fueling bullish sentiment is the anticipation of several upcoming IPOs for major Chinese startups. If sentiment towards the Chinese tech sector is strong, many speculators feel Momo shares can do well. The number of investors tracked by Insider Monkey with holdings in Momo Inc (ADR) (NASDAQ:MOMO) fell by one quarter-over-quarter to nine at the end of June.

Tata Motors’ Rally Continues 

Tata Motors Limited (ADR) (NYSE:TTM)’s shares continued their post-earnings surge on Monday, hitting a 52-week high. Given the size of India’s population and the fast growth rate of the country’s economy, many investors believe Tata Motors Limited (ADR) (NYSE:TTM) can maintain its healthy revenue growth for the years to come. Management has also executed relatively well by controlling expenses when needed. At the end of the second quarter, 12 funds from our database owned shares of Tata Motors Limited (ADR) (NYSE:TTM).

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