Terremark Worldwide Hits 52 Week High as Well
TMRK is caught up in the 'cloud computing' craze as it is a prime provide of cloud services in its data centers. Its interesting to note that Rackspace Hosting (RAX) is also breaking out today which has been unusual for these 2 stocks to trade in tandem. So much for the market trading in a herd and stock picking going out the window.
RAX on the other hand hasn't broken its high from the beginning of the year. Its a much bigger company so potentially TMRK is being seen by the market has a takeover candidate.
Both stocks and especially TMRK has become overbought and likely needs to take a break prior to advancing above $10.