It is almost a given that investors are prone to follow stocks that record handsome gain over a sustained period and hence, it could be a good time to take a closer look at the Baosheng Media Group Holdings Limited (NASDAQ:BAOS).
Yesterday, the Baosheng Media Group stock was in focus and went up by 15% to take its gains for the past month to as much as 43%. While it is true that the stock has clocked considerable gain, it is perhaps also necessary to note that there has been no news about the company in recent time that might have led to such handsome gains.
Back in April, the Chinese online marketing solutions company announced its financial results for the financial year ended on December 31, 2020. The company managed to generate revenues of $11.9 million for the years, which reflected a steep decline of as much as 33.3%.
On the other hand, the gross profits generated by Baosheng Media Group came in at $10.7 million, which also worked out to a decline of 33.4% from the year ago period. The company did state that the coronavirus pandemic had a negative impact on not only its customers but also on its business.
Market Reaction:
On Tuesday, BAOS stock gained 14.75% to $3.89 with more than 3.38 million shares, compared to its average volume of 168K shares. The stock has moved within a range of $3.3700 – 4.4400 after opening the trade at $3.37 Over the past 52-week, the stock has been trading within a range of $2.4800 – 10.2000.
 Stock Extends Rally: How Far Can it Go?){kind=link}