Some other things that should be considered:
This company was taken over in September by multi millionaire and co founder of L-3 Communications Robert Lapenta.
They completely switched focus to the broad commercial, government and insitutional LED market from consumer market.
This company should EASILY show a doubling (if not 300% to 500% increase) in revenue from 2012 to 2013.
And they are a relative unknown.
Looking for a motivator for this volume/upsurge, but I don't see one.
Appears that someone with a stake just decided to drive it. They pushed the price upside enough to trip two key tech indicators from negative to positive: Parabolic SAR indicator flipped back to uptrend from downtrend, and MACD momentum indicator back to slightly positive from slightly negative.
Will there be follow-though on this latest surge, or will the consolidation that appeared to be happening re-assert itself?
But I can see no news, no headline, no coverage motivating this .....
Here is some news:
FORBES: Energy Efficiency Stocks Rally on Shaheen-Portman Bill
While the chance for broad energy reform to come out of our dysfunctional and divided Congress are slim, there is one area of broad agreement across the aisle: Energy Efficiency is good for jobs, and the environment. Much can also be done at modest or no cost to the taxpayer.
Today, Senators Jeanne Shaheen (D-NH) and Rob Portman(R-OH) are reintroducing their Energy Savings and Industrial Competitiveness Act, supported by a broad range of industry leaders, energy efficiency advocates, and environmental stakeholders. A similar bill passed the Senate Energy and Natural Resources Committee in the 112th Congress with broad bipartisan support
More specialized energy efficiency companies were also rallying. Waterfurnace International (TSX:WFI, OTC:WFIFF) rose 0.2%, while turn-key energy solution provider Ameresco (NYSE:AMRC) was up 3.7%. Energy efficiency LED lighting players Cree (NASD:CREE) Revolution Lighting (NASD:RVLT), and Phillips (NYSE:PHG) were also up, although broader conglomerates with a strong energy efficiency focus, such as Honeywell (NYSE:HON) and Johnson Controls (NYSE:JCI) followed the broader market down.
The bill’s success is not guaranteed, but the senators have spent months of negotiations getting buy-in from more than 200 groups and organizations, from the Union of Concerned Scientists to the U.S Chamber of Commerce.
If the Senators have or will gather enough support for a version of this bill to make it into law, expect many of the energy efficiency stocks listed above to rally further, although that is far from the only factor which will be affecting these stocks over the next several months.
just the news from CEO to shareholders yesterday. pretty positive letter. but, i agree with you that there are no numbers to back up this surge. If there's a sell off what do think is a good entry point. I was in at 40 cents and sold at 2.15. was looking to get back in at 1.80, but believe i missed the boat? maybe 2.00 now?