One of the stocks that had an excellent start to the week was that of Liberty Star Minerals (OTCMKTS:LBSR), which ended up with gains of as much as 15% yesterday. The trigger for the rally in the stock came about after the company announced certain key changes to the composition of its board of directors.
Trading Data
On Monday, LBSR stock increased 15.55% to $0.1375 with more than 247.05K shares, compared to its average volume of 54.01K shares. The stock moved within a range of $0.1150 – 0.2200 after opening trade at $0.1150.
Liberty Star Announces Changes to The Board of Directors
It was announced that Nicholas Hemmerly had been appointed to the company’s board and the appointment had gone into effect with immediate effect yesterday. However, that was not all. In addition to that, two other board members, Gene Streety and Bradley Munroe had been made Emeritus Advisors to Liberty Star.
In light of the latest addition to that company’s board, it may be a good time to take a look at the credentials of Hemmerly. He is a partner and the head of investment banking for Bridgeway Capital Partners LLC, an affiliate organization.
Bridgeway, along with its affiliates is involved in providing strategic capital, investment banking and associated advisory services to companies in the lower to middle market categories. It seems that investors are excited and optimistic about the latest appointment and it remains to be seen if the Liberty Star stock can add to its gains today.
Key Quote
“On behalf of the Board, I would like to thank Bradley and Gene for their tireless service and dedication to our shareholders,” said CEO Brett Gross. “Their steady guidance has provided stability to our governance over the past few years. They are both long term shareholders and I’m looking forward to continuing their counsel as Emeritus Advisors.”
Technical Data
LBSR stock is trading below the 20-Day and 50-Day Moving averages of $0.15 and $0.18 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.32.
