Liberator Media Holdings, Inc. (OTCBB:LBMH) Revs Up Again
Friday was a good day for Liberator Media Holdings, Inc. (OTCBB:LBMH) shareholders, as the stock gained over 5% by the end of the session. Share volume was also heavy compared against the last month’s average, with 226 thousand shares changing hands.
The stock of LBMH surged in early July, driven by news regarding share buyback and cash dividend plans. Those announcements sent the stock through the roof and nearly shot LBMH to the $2 mark but significant correction took place in late July, with the price cooling down by a quarter.
It’s possible that stockholders got too excited about price levels they hadn’t seen in years and decided to cash in on them. All things considered, it should be noted that LBMH moved in both directions without the involvement of any stock pumps.
The latest quarterly from LBMH came on Aug 9 and it showed the following:
- $10 million in cash, $3 million up quarter-over-quarter
- $17.4 million in sales, $0.75 million up QoQ
- $2 million in net income, $0.6 million up QoQ
While total liabilities have also increased, 50% of that increase is due to the cash dividend payable to shareholders on October 10 this year. The release of the generally positive financial figures pushed LBMH into another climb that reversed quickly. After another week of slumping, the stock finally found its groove on Aug 22 and has been on a virtually non-stop green streak since then, barring a single red close of under 1%.
Last Friday the company also informed of the progress of its buyback program. So far Liberator has purchased a little over 260,000 on the open market, averaging $1.62 per share. The authorized buyback is with a scope of 1 million common shares.
Other big Friday movers included Medical Marijuana, Inc. (OTCMKTS:MJNA) who trader their greatest share volume in the last 6 months and slipped nearly 19% down from a late Thursday news-induced hype spike. Amarantus Bioscience Holdings, Inc. (OTCBB:AMBS) had a second strong day in a row, adding a cent and a half on Thursday and Friday, to close the week at $0.074 per share on furious volume.
