High Priced High Flyers Go the Other Way

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Includes: BIIB, BRK.A, CMG, CRR, CXO, EMN, EOG, ESGR, ISRG, JLL, MA, MSTR, NEU, NFLX, OPEN, PCLN, PII, PNRA, SEB, TZOO, VFC, WYNN, XEC
by: Bespoke Investment Group

Although the major averages are rallying to new bull market highs today, many of the high priced high fliers are hitting a bit of turbulence. There are 23 stocks in the Russell 3,000 that trade over $100/share and are up at least 20% year to date, and their average return through 1:15 PM eastern time is -0.62%. This comes on a day that the major averages are up nearly 1%. The list doesn't even include other names like AAPL, AMZN, BIDU, SINA, and SOHU, which are also all uncharacteristically weak on an otherwise strong day.

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