Liberator Medical Holdings, Inc. (OTCBB:LBMH) Pierces Through $2
On Thursday the stock of Liberator Medical Holdings, Inc. (OTCBB:LBMH) finally managed to pierce through the $2.00 mark and closed two cents above the dividing line. Friday showed that the ticker seems determined to stay afloat and LBMH closed just shy of 1% in the green, at $2.04 per share.
The stock’s previous bullish run in the middle of July was cut short just as Liberator seemed ready to float past $2 per share but a sufficient number of traders thought that’s about as much as they needed to cash out. Despite a lack of any significant negative news the stock went through a considerable pullback that sliced more than 50 cents from the price.
It seems shareholders did decide to give Liberator a second chance, as the stock kept running up after the crash. This time around volume accumulation was steadier and the green streak of LBMH was almost uninterrupted for two whole weeks. Now that the ticker has breached the $2 line and managed another green close after that, longs will be keeping their fingers crossed those levels are sustained, giving leeway for further growth.
The company posted strong Q2 financials, with quarter-over-quarter growth across the board, which possibly further helped the price performance:
- $10 million in cash, a $3 million increase on a QoQ basis
- $8 million in current liabilities
- $17.4 million in sales, a $0.7 million increase QoQ
- $2 million in net income, a $0.6 million increase QoQ
Friday’s OTC market had some disappointments as well. Alkaline Water Company, Inc. (OTCBB:WTER) tanked by 38% and generated dollar volume of over $6.6 million. The newest pump target of Awesome Penny Stocks – PacWest Equities, Inc. (OTCMKTS:PWEI), commanded considerable dollar volume as well, shifting $5.7 million.