HortonWorks (HDP) had its initial public offering a few years ago. The first year was a sell off, the second year built a base and in May, HDP broke out to fresh 52-week highs for the first time ever. After consolidating around the breakout level of $12.85, this morning HDP broke out from the consolidation.
As technology has been leading for a while, this stock has been climbing since October. It is still just over 50% of the IPO price so there is a considerable distance to get back to the initial price of the offering.
Greg Schnell, CMT, MFTA.