Today, The Bowser Report issued a daily mover alert on Infosonics Corp. (IFON), which was up roughly 10% today.
IFON closed up pretty darn close to 10% today on a heavy day compared to the company’s 10-day average volume, but an average day compared its 3-month average volume. With no news, IFON’s volume picked up midday, pulling the stock up. Upward momentum carried the company’s shares higher, before leveling off towards the end of the day.
IFON is currently in Category 1 with a Bowser Rating of 10 after posting good third quarter 2015 results, which included a 50% increase in sales year-over-year and a $138,000 loss compared to a $633,000 loss for the same period last year.
The stock is trading 30% higher than it was before this most recent earnings announcement, but still offers a good buying opportunity, especially if earnings momentum continues. The company has a habit of reacting in a large way (positive or negative) to earnings.
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