volume, the stock gained over 14% on its price and continued the climb to close at $6.16 per share yesterday.Along with the price jump, the trading volume exceeded 328 thousand shares for the day, which is a very unusual value for CJJD. Obviously, something has provoked the investors’ attention and they have started to buy.
As a result of the high trade and the 346% rise from the 52-week low, China Analyst named the company as “the 2nd best rebounding stock in this segment of the market”.[BANNER]
Following the records, there’s no other news on the company, except its latest financial report. According to it, during the first quarter of this year CJJD has reported:
- Revenues increase by 30.2%
- Gross profit increase by 52.6%
- Operating income increase by 38.3%
The company is highly satisfied with these results, though this year CJJD has suffered a net loss and its expenses have increased by over 100%. As of the middle of August, the company had over $13 million in cash, is operating 42 stores in Zhejiang Province and the management is making optimistic projections for the future.
China Jo-Jo Drugstores owns and operates a retail pharmacy chain in the People’s Republic of China. In April this year, the company was trading at $10.00 per share. However, after that the stock entered a downtrend. Two days ago, it started to move up again, but today the high trade seems to be cut off.
Presently, there is no news on CJJD, though investors should keep an eye on the stock and on what’s to follow.
