Newegg Commerce (NEGG) Stock Is Skyrocketing By 90%: Expect A Collapse?

On June 28, Newegg’s stock was $10.2. However, yesterday it has jumped high and was $19.38, which resulted in a 90% increase. Nevertheless, today when the market opened, the stock is declining to $16.68, which is already a 14% loss. Despite that there is no latest news for the last 2 weeks, the stock is soaring and investors are still watching the company.

Newegg Commerce owns and operates on Newegg com, an online electronic products retail platform in the United States. The company offers computer hardware products, computers and tablets, electronic products, software, gaming products, cell phones and accessories, home appliances, home living, and improvement products, health and beauty products, and other home accessories

The company also provides Newegg Logistics, a logistics solution to help e-commerce sellers and organizations streamline order fulfillment, shipment, and returns. It serves corporations, businesses, and individuals. Newegg Commerce has a partnership with Payability to launch Newegg Capital, a tech-enabled working capital solution for marketplace sellers.