ToughBuilt Industries (TBLT) Slumps 40% From February’s Peak: A Good Buy?

Tools and accessories company ToughBuilt Industries Inc (NASDAQ: TBLT) saw its stock perform impressively up until February this year. However, things have taken a different turn since then for the ToughBuilt stock and it has recorded a decline of as low as 40%.

It might also prove to be a buying opportunity for new investors and hence, it might be worthwhile to take a look at the company’s financial results announced on March 27, 2021.

In the financial year that ended on December 31, 2020, the company generated revenues of as much as $39.4 million which reflects a year-on-year rise of 106%. On the other hand, the gross profits for the financial year came in at $14.7 million, which worked out to year on year rise of 162%. However, the net losses widened from $6.2 million in the year-ago period to $18.6 million. The significant rise in annual revenues might prove to be a major positive for the ToughBuilt stock.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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