On Friday, The Bowser Report
issued a daily mover alert on LightPath Technologies (LPTH), which gained more
than 20% for the day.
The selling wore off for LPTH
following the StreetSweeper’s negative article. Investor’s responded to a share
price that fell $0.72 (-23%) from Monday’s close by buying today on heavy
volume.
As we said in Tuesday’s daily
alert, the StreetSweeper article disclosed that the owner’s of StreetSweeper
have a short interest in LPTH. Therefore, they stood to benefit from the
stock’s decline. Call it what you will, but the negative article included heavy
speculation and the panicked selling it caused was bound to end.
LPTH has a current Bowser Rating
of 9, which pits the company in Category 2, as long as it stays under $3. Now
climbing back towards its 52-week high, its important to not chase the stock
upward when entering a new position. Chasing diminishes gains. However, we do
think this is still a good stock with room to run in the near future.
LPTH will report its earnings on
February 4. That could be a catalyst for the stock to climb (or fall depending
on the results).
To learn more about The Bowser
Report, visit https://thebowserreport.com
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