Chinese online retail shop Light In The Box (NYSE: LITB) is proudly announcing the Q2 2020 financial report by informing a double rise in sales year over year. Almost tripling year over year net income of $8.5 million. The previous quarter had $0.7 million only.
Thanks to globalization and free trade. Light In The Box could become the next Aliexpress or TaoBao globally. Postal services work smoothly and fast and most of the e-commerce firms take huge advantage.
As China is still a one-stop center to build a product and manufacture in bulks, foreign investors manage to invent many business ideas as they can.
Right now LITB is trading around $4.16 in premarket after soaring by over 40% within a couple of hours. Its shares’ number will also soar by millions of units.
Finance and Tech Contributor