The SemiLEDs Corporation (NASDAQ:LEDS) stock is carrying on from where it left off last week and has rocketed by 53% this morning on the back of huge trading volumes.
Over the course of the past week, the gains made by the stock stand at 225% and in this regard, it should be pointed out that there has been no recent news regarding the company either. Last Thursday it was reported that as many as 27.52 million shares had been traded in the first hour of trading alone.
The SemiLEDs stock had a 30-day average trading volume of 912000 shares at the time. That is a significant figure. It is also important to point out that in the second quarter, the company generated revenues of $1.2 million which is significantly higher than the $719000 that it had generated in the previous quarter. Additionally, the gross margin also hit 20% from negative 3%.
LEDS stock is up over 53% at $12.17 – near to its 52-week high of $13.44.