Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records massive gains despite there being no news about the company in question.
One of the stocks to have behaved in a similar fashion is that of the global cybersecurity company VirtualArmour International Inc (OTCMKTS:VTLR).
Major Developments
VirtualArmour International Inc (OTCMKTS:VTLR) rallied by as much as 15% on Thursday and in the process, took its gains over the course of the past week to as much as 250%.
While the gains are eye-catching there has been no news about the company in the period. In such a situation, it might be a good idea for investors to perhaps look into developments from the past.
The company provides its services to clients all over the world in order to secure their networks. In addition to that, it is also necessary to note that the solutions provided by VirtualArmour are for both hardware and software.
Additionally, the company claims that its products are scalable as well. Back in December 2020, VirtualArmour announced its financial results for the third quarter of 2020.
The professional and managed services revenues for the quarter jumped to $1.6 million, which reflected a year-on-year rise of as much as 15%.
On the other hand, the gross profit margin for the quarter soared to 52% and the operating income for the period came in at $130000. In the same quarter, which ended on September 30, 2020, VirtualArmour managed to generate an adjusted EBITDA of $218,000.
The figures show that the company had managed to improve its standing as a business and that is something that investors need to keep in mind when looking into the current rally in VirtualArmour.
The strong rally at this point is likely to bring the stock into the radars of many investors and hence, it might be a good idea to add it to the watch lists.
Disclaimer: We hold no position in VLTR stock.