Kraft Foods Inc. (NASDAQ: KFT) may sound like a strange restructuring name ahead of its split when the company will become Mondelez. It sounds like a casino, but investors are snapping shares up. In fact, the food giant’s share price just hit a new 52-week high today. This is not the highest that shares have ever traded on a nominal amount, but Kraft’s dividend adjusted share price would be raising eyebrows.
A review of a chart going back 10 years shows that Kraft might theoretically have strong resistance if shares hit $42.00 or $43.00.
The stock’s prior 52-week high was $41.90 and the high today was $42.00. Analysts still have a consensus price target objective of $44.12, according to Thomson Reuters, and Yahoo! Finance lists Kraft’s new market value at $74.4 billion.
The only real remaining question we have now (outside of that silly future name) is which other public company, or if another, will replace Kraft as one of the 30 Dow Jones Industrial Average components.
JON C. OGG
Travel Cards Are Getting Too Good To Ignore (sponsored)
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.