Penny stocks most often change by enormous percentage so smart investors could make a fortune overnight. Today starting from 9:00 AM NASDAQ: EVK surged to $2.00 and bouncing to reach even $3. This week Chinese brands rally in U.S stock markets thus Ever-Glory doesn’t want to stay out of countrymates’ triumphal rise. However, some of them have lost significantly as blasting off means quick fall within days.
Q1 2020 revenue was almost fatal to the apparel fashion brand due to the COVID-19 lockdown in China, hence, net loss came to deduct funds from reserve. Next quarter financial results will possibly show positive changes in revenue and net income as the Chinese public is immune to the second wave of the pandemic.