NF Energy Saving Corp (NASDAQ: BIMI) had an incredible run in the market yesterday, following up on the strong gains seen last week. last week, the company announced that it has engaged a new investor relations firm, leading to gains on high volume.
Yesterday, BIMI hit the tape again, announcing that it has completed the acquisition of Boqi Zhengji Pharmacy Chain. Since Thursday’s announcement, the stock has climbed from $1.10 per share to the current price of $11.07 per share (Tuesday premarket).
After such a dramatic run for the top, many are starting to wonder if there is any room left. Here’s how I see it:
Is There Room Left In BIMI Stock?
While NF Energy Saving has seen a dramatic run for the top over the past few trading sessions, it is still trading on losses year to date. After hitting highs of $18.20 early this year, the floor fell out from under BIMI stock.
Using just the year’s high as a guage, the stock has plenty of room left to climb. However, there’s more to the story. At the end of the day, the recent news out of the company is very exciting for a few very good reasons. Here’s why I believe that the stock will continue to head up in the near term.
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