Breakout In Acme Packet (APKT)

Shares of white-hot Acme Packet APKT have broken out to a new all-time high on Friday. The stock is up 5.15% to $76.55. The move is coming on relatively high volume as the 3-month volume average has already been exceeded with more than 2 and a half hours left in the session. The stock trades at a forward P/E of 53 and a PEG ratio of 2. This is a leading momentum name and has been prone to huge ramp ups along with steep sell offs. All told, however, APKT has been one of the absolute best performing names of the last year, rising more than 362%. Acme Packet, Inc., incorporated on August 3, 2000, provides session border controllers (SBCs) that enable service providers, enterprises, government agencies and contact centers to deliver interactive communications, such as voice, video and other real-time multimedia sessions, across Internet protocol (IP) network borders.