Robinhood Penny Stocks #1: Toughbuilt
Finally, Toughbuilt (TBLT Stock Report) has shown signs of life after weeks worth of selling pressure and uncertainty. There are over 11,000 portfolios on Robinhood that hold shares of this penny stock. After one of its largest share volume days ever, it could be on a few penny stocks watch lists later on. Toughbuilt has had a tough year building a bullish market.
Dilutive equity offerings and shoddy performance results didn’t help the case either. In fact, it saw shares slump from highs of $0.48 to lows of $0.13. But this week, that might have all begun to change. After announcing that 87 of its products would launch on zoro.com, the market began to wake up on Feb. 19th. On the 20th, not only did TBLT stock see a record share volume day, but it also saw its stock bounce over 30%.
Though there was no follow-up announcement or corporate filings, it appears the Feb. 19 news resonated further with the market. Furthermore, with product prices ranging from $6 to $279.95, it could be a decent opportunity for the company. The website also hosts around 400,000 customers according to Toughbuilt.
While brick and mortar seem to be dying out, the company looks like its ready to evolve and focus on eCommerce to expand. Whether this launches a turnaround story for the company will only materialize once we see how well (or not) it performs over the next few quarters of earnings results.
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