An announcement from Friday afternoon reminded that one of LFBG branded real-time games has been among the 10% top selling PC games during last year’s “Christmas Holiday selling season”. A day before that, the company announced the receipt of additional orders from some leading Christian store chains. Being already in a celebration mood due to the previous revenue-related PRs, LFBG stock accumulated even more traders’ optimism yesterday.
The share price jumped 37.93% up to a close at $0.004 and the volume was over three times the average. LFBG has received unusual trading activity over the last three months, for which the combined effects of the press releases and the numerous trading alerts have substantially contributed. Technical indicators may attracts more buyers, but the fundamental support is still missing.
Last year, the company actually reported boosted sales for the last quarter of the year, but they were still by far insufficient to cover the expenses and lead to a profit. Moreover, the market’s sentiment obviously does not take into account that at the end of this June LFBG had five times more current debts that total assets and was in a dire need of cash.
Hopefully, the big gains will not go only to the shorters, who have been quite active in trading LFBG stock since the begin of its rise. The portion of the shorted volume since the beginning of the month has rarely been below 35%, and has reached 47% last week.
