Attention investors! The Bellamy's Australia Ltd (ASX: BAL) share price is going gangbusters…
Bellamy's Share Price
It's quite incredible really. After hitting a low of around $3.75 on January 24th the infant formula maker's share price has rallied 34%. What's more, today's 12.6% rally comes despite no material news being released by the company.
In fact, the only real news to surface over the past few days is that relating to the proposed management spill. Earlier this week, the company was forced to release its full share registry to a major shareholder, the Black Prince Private Foundation.
Black Prince is trying to topple Bellamy's board of directors in the wake of its shock month-long trading suspension and profit downgrade in early January.
However, in other news U.S. fund manager Delta Partners has recently become a substantial shareholder. So far, that bet appears to have paid off for the firm.
But with the inventory and working capital issues, a class action and the founder of Kathmandu Holdings Ltd (ASX: KMD) breathing down the neck of management, the Bellamy's share price rally may be short lived.
Indeed, in my humble opinion, Bellamy's is a risky bet today. Despite recently being the market darling and trading over $13 per share, there are a few issues Bellamy's has to sort out before this Fool will look to buy in.
