SemiLEDs (LEDS) Stock Makes Another Surprising Rally: Here Is Why?

There is no stoppage for SemiLEDs Corporation (NASDAQ:LEDS) as the stock continues to show up big gains. After opening almost flat, the stock started to pick up momentum by the late morning session and soared as much as 78% at one point in time.

SemiLEDs (LEDS) Stock Makes Another Surprising Rally: Here Is Why?

Right now, the stock is up by 55.65% to $14.85. Volume is heavy with more than 16.60 million shares already traded, compared to its daily average volume of 5.17 million shares.

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LEDS stock is one of the biggest gainers this month with a big jump of 275% so far this may and made a multi-year high of $16.94 in today’s trading session. So what’s driving the stock crazy? Well, there seems to be no official release behind such a rally.

For the second quarter of fiscal 2021, the company had reported $1.2 million in revenue, compared to $719 thousand in the first quarter of fiscal 2021. Moreover, net loss $255 thousand, compared to a loss of $697 thousand.

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Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.