ALJ Regional Holdings, Inc. (OTCMKTS:ALJJ) Storms Back Up After Brief Reversal
Monday’s session saw the stock of ALJ Regional Holdings, Inc. (OTCMKTS:ALJJ) dash back up the chart after a three-day pause that the ticker spend in the red. However, what was lost during the second half of last week was easily made up for and ALJJ closed nearly 17% in the green.
The market obviously took an immediate liking to the acquisition the company announced on October 18 and which we covered previously. The ticker did slip over the last three sessions of the previous week after having gained over 60% and volume was steadily dropping. ALJJ received a very optimistic review of its acquisition last Monday on a popular stock blog, which likely helped it move during last week, and this was reiterated in a Friday post.
Investor discussion boards are unusually quiet considering the run the stock had over the last two weeks. While there have been no new press announcements from the company, ALJJ‘s latest filing is the most likely cause for Monday’s surge.
The company posted a current report concerning the Faneuil acquisition. Among the slight board shuffle in ALJJ, the report also contained the numbers investors were looking forward to.
The following numbers were listed in the report for Faneuil, on a pro forma basis, for the nine months ended September 2013:
- $29.3 million in current assets
- $79.6 million in revenues for Jan-Sep 2013
- $1.7 million in adjusted operating income for Jan-Sep 2013
The report contains those same figures for all of 2012 as well. It also lists a $5 million revolving line of credit that Faneuil entered into, with M&T Bank being the borrower. We strongly encourage all readers interested in ALJJ to give the full report a thorough reading, as it contains detailed information about Faneuil’s business, clients and operations.
The report that was posted on Friday obviously triggered a buying spree once again, with its meaty numbers that will hopefully soon repeat in ALJJ‘s own balance sheet. How much further the stock will be able to run remains to be seen.
