We contacted LJ International (JADE) investor relations today for an update on whether the company is any closer to issuing a news release concerning the date it plans to announce earnings. Managing Partner Haris Tajyar would only say that the company is in the "process of completing our audit." Tayjar was unsure when the audit would be completed.
Whenever there's a situation where earnings are running late and the word 'audit' is muttered, there the potential for downward pressure on a company's stock. JADE shares are down nearly 3%.
While this may pressure shares in the near term, my bias on this one remains bullish, though with any 'auditing' related situation be prepared for anything.