Two of the regular monthly stock promotions for LLEN stock have been disclosed over the past few days, the first one for this month on Thursday last week and the second one yesterday. The company is still paying a monthly fee of $8,000 and has delivered 15,000 restricted shares of common stock to the same promoter.
Although LLEN has been heading downwards recently, the latest promotions had some success. For the past three trading session the share price of LLEN is climbing up, yesterday by another 1.18% to $8.59. The trading volume gain was not impressive as well.
Along with the promotions, LLEN stock has received some favorable for traders coverage recently, being mentioned as one of the best performing stocks among its peers and as outperforming the Shanghai Index, the S&P 500 and some of the other Chinese small cap stocks this year. It seems that traders who are ready to ignore the much higher political and regulatory risks of investing in a China-based company got attracted by the good volatility that LLEN offers and decided that after the bottom the climb starts again.
In support of that idea, the company’s management has also been bullish over the last months. Such management repurchases are not something unusual for LLEN and have often been done in the past as well as means to compensate some of the risks and to induce credibility on the market. Since the beginning of July, the executive management and the directors of the company have purchased almost 384,000 shares of LLEN.
Most of the shares were bought by the CEO, who executed some warrants and now owns around 25% of the company. On all of the bullish mood, however, the share price seems still to be at a discount, not reflecting the fundamentals, like the 62.5% growth in the revenues over the quarter ended in July and the higher operating cash flow in the same period.
