on the market and its volume exceeded 605 thousand shares traded. As compared to its average volume of 63 thousand shares, the current value is highly unusual for LTUS.Apparently, the investors’ interest was successfully provoked. However, its too soon for any projections for a bullish trend to be made.[BANNER]
But what’s behind the present high momentum of LTUS?
Records point that the company has just been promoted by ShamrockStocks.com and it started the climb. Shamrock Stocks reported that LTUS has entered into a termination agreement with Yorkville Global Master SPV Ltd. with no obligations at all. However, Lotus stated that it had currently no working capital and it should find additional financing.
Based on this, we may consider that the financial situation of the company is not much promising.
Lotus Pharmaceuticals is a growing developer and producer of drugs and a licensed national seller of pharmaceutical items in the PRC. Historical records show that the stock has traded much higher over the last year, when its price reached $1.95 per share. Though, since the beginning of 2010, the price has moved down to under $1. Presently, the stock is climbing up, however we can’t be certain about the future movement.
LTUS quarterly results don’t look much satisfying. The company has generated lower revenues and gross profits and its operating loss has increased. The only good thing for LTUS is that it has more assets than liabilities on its balance sheet, though the company still has long-term debt to pay.
Keeping in mind all the facts mentioned above, traders should pay attention to the future movement of the LTUS stock.
