Amabarella Screams To All Time High Off GoPro Inc Q2 Beat

em>Joel Elconin is the co-host of

, a daily trading idea radio show.

Ambarella

shares are trading higher $2.94 at $125.44 in Thursday's session. The issue is rallying for the second straight on the heels of the strong earnings posted by GoPro Inc. on Wednesday. The company provides components that are used to manufacture GoPro products. After adding over $4 in Wednesday's session. the issue surged to new all high ($129.19), surpassing the all time high that was made on June 18 at $128.70. Within the next two days the issue was submarined by the Citron Research firm that claimed the true value of the issue was in the $60 range. Within two days the issue was back down at $94.36 before mounting the current rally to new all time high. In order to improve on its all time closing high price it would need to close above $126.70. Today's price action is taking place on higher than average volume. So far, 4.1M shares have changed hands compared to its 20 day average of 3.13M with less than two hours remaining in the session.