Shares of Lakeland Industries Inc (NASDAQ: LAKE), engaged in manufacturing and selling a line of safety garments and accessories for the industrial protective clothing markets, registered over a 13.8% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. LAKE was among the top performers of U.S. consumer goods & services sector after climbing 15.8% and closed at its 52-week high of $11.62 Wednesday, while recording significant trading volumes of 10.6 million shares. With the recent confirmation of first Ebola case in U.S., LAKE’s stock gained upward momentum on expectations of increased orders for hazmat suits (Hazmat suits are used by health workers treating patients infected with the deadly disease). LAKE also noted that United States State Department alone placed a bid for 160,000 protective suits. During the past 5-trading sessions, LAKE gained 29.0% with daily average trading volumes of 6.0 million shares, while the stock accumulated over 85.9% during the past one month with daily average trading volumes of 1.3 million shares. The stock is up 120.9% year-to-date.
Company Description:
Lakeland Industries, Inc. (NASDAQ: LAKE) manufactures and distributes disposable and reusable protective work clothing. The company’s products are used in the chemical, petrochemical, health care, automotive, glass, cement, asbestos/lead abatement, waste management, and other industries. Lakeland markets its products around the world.
1-Year Stock Chart:
Source: Bloomberg
