Even though LVLT received another plug from Jim Cramer Wednesday night on his show “Mad Money with Jim Cramer” (he said that he thinks LVLT is going to $7), the stock pulled back on Thursday, trading down over 8% on extremely heavy volume (104 million shares traded versus normal daily average of 19 million shares.) LVLT closed at $5.15 on Thursday and currently has a 52 week high of $5.64. It can’t be surprising to see LVLT pull back a little bit after the run it has made over the past few weeks; on March 15th, the stock closed at $3.35, and hit a high of $5.64 within just a couple of weeks. Bear in mind that LVLT has over a $4 billion dollar market cap. These pullbacks should be expected whenever you get a fairly high capitalization company making that kind of a move in a two week period. LVLT still has plenty of momentum right now, and I still think that LVLT hits the $6 level in the next week or so.
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