This $9 Stock is on Fire
|Written by GSCR Staff|
|Tuesday, 20 August 2013 07:31|
With 2Q13 earnings season coming to an end and the recent slump with another down day yesterday, we thought we would take a look at some of our previous picks from the Market Monitor. It may be time to add to your position.
Rubicon Technology, Inc. (NASDAQ – RBCN - $9.58) was discussed in the Market Monitor back in mid April. The stock is up nearly 53% since then and has been a bull among bears since August, 5th, the market high, up nearly 1%. RBCN skyrocketed up to the $9 level in mid June; plummeted back the $7 range, made a steady climb back to $8 by the end of July, and now appears to be one of the few hot stocks in a slumping market.
The Company makes a wide variety of electronics products that include monocrystalline sapphire and other crystalline products used in the LED space, which is still growing rapidly due to the smartphone industry continuing to add new customers.
With bullish technical analysis in the short and intermediate term combined with analysts’ consensus estimates that in 2014 Rubicon will rebound with a 70% increase in revenue from 2013, the stock looks poised to keep running.
Have a great day.
Disclosure: Goldman Small Cap Research analysts are neither long nor short these shares but may elect to purchase the stock within the next 48 hours.
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