After the recorded on Friday 52-week high, seems that today Akorn, Inc. (NASDAQ:AKRX) stock may slip downwards.
The beginning of the trading session shows an 0.85% price decline.
Only analyst coverage for the outperforming AKRX shares and stock marketing letters presenting the potential winner AKRX are not able to sustain the high price level for a long time.
At the week’s end, AKRX stock closed the market at $3.55, adding 8.56% to its value. The new 52-week high of AKRX shares stroke in a volume of 1.4M shares traded.
The second huge for this month AKRX stock rush was done on no news about the company.
AKRX has not seen official releases and SEC filings since the second of July. Then, AKRX filed information about certain future changes in its balance sheet structure, related to converting of debt into shareholders capital.
The company announced that some of its warrants will no longer be classified as a liability with quarterly adjustments to fair value and will be treated as a component of shareholders’ equity.[BANNER]
Taking into consideration the good standing of the company’s indebtedness and despite the positive and optimistic financials, it is not possible to conclude that the above presented fact was able to push AKRX stock up throughout a whole month.
Seems, that the analyst coverage for the outperforming AKRX shares in the middle of the month made a miracle with AKRX stock performance.
This Friday, as a continuation of investors’ optimism on no news, a record was noted. Looks like after such kind of optimism, shares plunge back may follow.
