Liberator Medical Holdings, Inc. (OTCBB:LBMH) Still Running
After seemingly finding a calm spot at its previous close, the stock of Liberator Medical Holdings, Inc. (OTCBB:LBMH) surged near the end of the session and closed the day over 5% up. The stock has so far gained about 60% in the last month.
The chart rally of Liberator is a pretty amazing feat, considering the stock was trading as low as $1.00 back in June. We have covered the first climb that was triggered by the announcement of the company’s third cash dividend and the plans for a share buyback of up to 1 million shares, a large portion of which has already been implemented.
The price gave in once near $1.90 but after a handful of dramatic red sessions LBMH switched in higher gear again and by September had pretty much made up what was lost in the crash. The current month has been an all-out storm up the charts as Liberator reached new 3-year highs that it kept improving on.
Some traders on discussion boards have for a few days expressed a negative sentiment towards the stock, making oblique suggestions that it should be shorted. It’s obvious that LBMH has climbed a lot in a relatively short time frame and the goings-on that made the stock go up roughly 140% in about three months time may not warrant such a massive climb according to some. It’s difficult, however, to dispute that the quarterly report they last posted, covering Q2 of this year, was a very strong one, showing quarter-over-quarter growth in cash, sales and net income.
While there’s no way to be certain that LBMH has hit the roof of its capabilities in terms of price performance, there is always the possibility that a sufficient number of shareholders may decide to cash out at the significant new highs. On the other hand, traders have been suggesting that LBMH is bound to slip from its high perch for a few days now and the stock has kept climbing higher, so shorts may find themselves in a nasty situation, even if the risk of a reversal exists.
Other significant movers in yesterday’s session include NanoTech Entertainment, Inc. (OTCMKTS:NTEK) who gained as much as 12%. Elite Pharmaceuticals Inc. (OTCBB:ELTP) shuffled a solid 21% up to a close of $0.13 per share.