Under $3 penny ProPhase Labs (NASDAQ: PRPH) rose from $1.94 to $4.04 this morning after releasing Q2 2020 financial reports. However, a sudden fall to $2.66 increases daily volume to over 11 million shares.
June was a bad month for PRPH in rising significantly to pass $2 line. Due to a lack of effective projects to cheer up investors, PRPH has a flat movement for over one year.
Overvalued by the market ProPhase Labs is still reporting negative earnings despite rising revenue for a half part of 2020. The company ought to embrace the cost-reducing methodologies without job cuts. However, this way may not work during the pandemic that makes investors reluctant to invest in narrow niche companies.
Finance and Entertainment Reporter
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