The Redbubble Ltd (ASX: RBL) share price continued its strong run on Tuesday and climbed 2% higher to $1.26.
This brought the e-commerce company's 30-day return to an impressive 46%.
Why did its shares climb higher today?
As well as the positive momentum caused by its recent trading update, Redbubble's shares were given an additional boost after it announced the verdict from its court battle with The Pokémon Company.
Although the Federal Court found in Pokémon's favour on infringement, it declined to award any injunctions and awarded Pokémon only nominal damages of $1.
Furthermore, the judgement recognised that Redbubble has reasonable and defensible systems and processes in place.
The Pokémon Company had taken legal action against Redbubble for selling T-shirts featuring artist-submitted depictions of Pikachu and other characters.
With the court case out of the way, the company can now focus on its business again. Which is booming judging by its recent update.
Last month Redbubble advised that year-to-date gross transaction value is up 30.8% on a constant currency basis. As a result, management reaffirmed that it is on track to move into ongoing operating EBITDA profitability late in FY 2018.
