Oxbridge Re Holdings Limited Rockets More Than 100% Amid Announcing $165,000 Q2 Net Income

One of the most luring penny stocks Oxbridge Re Holdings Limited (NASDAQ: OXBR) has been having volatile share prices recently. On Monday, OXBR fell 4.88% to $1.17 on blasting off the daily volume of 6,715,489 shares.

Announcing Q2 2020 financial results 15 hours ago could lift the stock to $2.44 in the premarket. Especially “no loss” statement from management most possibly makes many investors consider buying the cheap stock while it is struggling to soar higher to become expensive. In 2020 there is no loss yet if we combine both Q1 and Q2 net incomes.

In June OXBR was very active by being volatile and showing the rise. But then it became flat for a while. Only the Q2 report makes it grow and additionally, net income encourages long term investors to consider the possible earnings making stock.