SemiLEDs (LEDS) Stock Rockets To Multi-Year High on Massive Volume

SemiLEDs Corporation (NASDAQ:LEDS) stock continues to move higher and is the biggest gainer right now. After opening in red, LEDS stock is witnessing a trending session and now soared a whopping 109% to a new 9-year high of $11.48.

SemiLEDs (LEDS) Stock Rockets To Multi-Year High on Massive Volume

Although there is no news for such a big jump, volume is very significant with more than 27.52 million shares have already been traded within the first 60 minutes of trade – much higher than its 30-day average volume of 912K shares.

Earlier this week, LEDS stock went up over 57% on Tuesday on the volume of 16.72 million shares.

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For the second quarter, the company had $1.2 million in revenues, compared to $719 thousand in the first quarter of fiscal 2021.

On an adjusted basis, the company had 6 cents share, compared to a net loss of $0.17 a share in the same quarter of the last year.

The gross margin improved to 20%, from negative 3%.

Keep an eye on LEDS stock as it is showing solid momentum. But it’s very volatile, so trade carefully.

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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.