3 Surprising US Stocks Hitting New Highs Last Week

A social media giant, a hotelier, and an auto salvage specialist keep reaching fresh highs.

| More on:

The market had a good week, so it’s not a surprise to see many of the recent market darlings keep moving higher. More than 625 stocks on the major U.S. exchanges hit new 52-week highs last week. A lot of the winners are familiar and obvious, but some of the names may surprise you.

Twitter (NYSE: TWTR), Choice Hotels (NYSE: CHH), and Copart (NASDAQ: CPRT) are some of the more surprising names among the hundreds of stocks hitting all-time highs. Let’s see what’s driving these three stocks higher.

Image source: Twitter.


It may seem odd to see Twitter hitting 52-week highs on Friday. Social media is generally under fire, and Twitter is seen as a platform that’s been easily exploited in the past by bots and other nefarious accounts to influence elections and general user behavior. There are also data and privacy concerns; even the CEO had his account hacked late last month.

Thankfully Twitter’s financial actions are speaking louder than its character count-restricted words. Twitter has consistently trounced Wall Street profit targets over the past year. Revenue rose 18% in its latest quarter this summer, up 20% on a constant currency basis. There were once concerns about stagnant account growth and waning interest on its home turf, but U.S. revenue soared 24% for the second quarter. Twitter also claims to be better about tackling “spammy” accounts, realizing that it will be under the microscope as we head into the 2020 election.

Choice Hotels

Investors aren’t exactly hot on hoteliers these days. Between geopolitical tensions that are disrupting international travel and a market that’s bracing for a potential global recession running an inn isn’t exactly “in” with investors. Choice Hotels is standing out for its value-priced approach to lodging.

Baird analyst Michael Bellisario initiated coverage of the hospitality winner late last month, arguing that it’s the most defensive brand in his coverage of hotel brands. He sees the current low interest rate environment and Choice Hotels’ predictable earnings and cash flow as compelling even with the stock now trading at all-time highs.


There’s some money to be made selling salvage and clean title vehicles through auctions to dealers, exporters, and scrap seekers, even as the car market in general seems to be shifting into reverse. Copart hit fresh highs last week after posting blowout financial results for its fiscal fourth quarter.

Revenue rose 21% for the three months ended in July, and Copart’s strongest year-over-year top-line burst for a quarter in more than a year. Earnings per share doubled that pace, rising a better-than-expected 42% for the period. Copart has now pieced together four consecutive fiscal years with double-digit revenue growth. It’s earning its revved-up highs.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Rick Munarriz owns shares of Twitter. The Motley Fool owns shares of and recommends Twitter. The Motley Fool recommends Copart. The Motley Fool has a disclosure policy.

More on Tech Stocks

A shopper makes purchases from an online store.
Tech Stocks

Better Buy: Shopify Stock or Amazon?

Shopify Inc. (TSX:SHOP) is well positioned for growth ahead.

Read more »

Piggy bank next to a financial report
Tech Stocks

TFSA Contribution in 2023: Where to Invest $6,500 Right Now

Here's why you need to consider buying NBLY stock and Docebo stock for your TFSA portfolio in 2023.

Read more »

A bull outlined against a field
Tech Stocks

3 Cheap Stocks I’d Buy in Bulk Before a Bull Market Arrives

After a hot start to the year, here are three discounted TSX stocks that I’d seriously consider loading up on…

Read more »

A worker uses a double monitor computer screen in an office.
Tech Stocks

Better Buy: Shopify vs. Constellation Software

Are you interested in buying a tech stock? Find out which is the better buy between Shopify and Constellation Software.

Read more »

Woman has an idea
Tech Stocks

3 No-Brainer Stocks to Buy for Less Than the Cost of 1 Tesla Share

Are you confused as to whether to buy Tesla shares? Here are three no-brainer stocks that can give you exposure…

Read more »

Tech Stocks

1 Under-the-Radar Beneficiary From the Rise of ChatGPT

ChatGPT will benefit AI-enabled stocks like Docebo (TSX:DCBO).

Read more »

Businessman holding AI cloud
Tech Stocks

TFSA: 2 AI Growth Stocks for Your $6,500 Contribution

Here are two of the best AI stocks to buy in Canada in 2023.

Read more »

edit Colleagues chat over ketchup chips
Tech Stocks

The Best Stocks to Invest $50,000 in Right Now

You can create a portfolio of undervalued stocks with $50,000 right now. Here are three such stocks you can add…

Read more »