4 Stocks Hitting New Highs While Market Sells Off

www.forbes.com
3 min read
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The nice thing about big stock market sell-offs is that afterwards, by checking the "new highs" list, you can see which stocks are showing strength.
Stock image of young woman studying a see through computer screen & contemplating. getty

A stock heading higher on the day that most stocks are tanking might be worth looking at. Why is this one going up when most everything else is tanking?

With that in mind, here's a look at a group of equities that refused to go along with the unloading early this week.

Pilgrim's Pride PPC is in the global packaged goods business and most of that involves well-known brands of chicken. There's the namesake, Pilgrim's Pride, as well as Country Pride, Del Dia, Pierce Chicken, O'kane in Northern Ireland and ToRico's in Puerto Rico.

Brazilian firm JBS, which already owns a piece of the Greeley, Colorado-based company, has proposed a buy-out at $26.50 for those shares it does not yet own.

Pilgrims Price daily price chart, 9 21 21. stockcharts.com

Pilgrim's Pride traded today at $28.64, more than 2 dollars above the proposed takeover price. It had already gapped higher than $26.50 on the JBS news in mid-August. Could it be that investors believe a higher buy-out figure might be in store, eventually?

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John Navin
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