Since mid-March NYSE: OMI has been slowly rising while COVID-19 was forcing to take quick actions in meeting the demands of healthcare businesses that needed the logistics support at most. As the preliminary Q2 2020 financial results just came out OMI soars almost 70% on 36,458,360 shares. Such drastic change makes its chart for previous prices flat.
Owens & Minor are still adjusting their financial results for Q2 2020 while investors are eager to know by increasing demand for OMI thus lifting the price on speculation.
OMI may go back to usual $8 or $7 points as most investors consider it as slow-growing long term stock with the full potential in paying dividends after making enough earnings on rising demand for medical and healthcare logistics.