The stock market can sometimes be a bit confusing for investors since sometimes stocks may make moves that may seem a bit irrational. One of the stocks that made such a move yesterday was the LightInTheBox Holding Co Ltd (NYSE:LITB) stock.
There was no news about the company at all but investors piled on to the stock in a big way nonetheless and the LightInTheBox stock ended the day with gains of as much as 40%. The company is involved is a global e-commerce platform that delivers products to its customers who may be located anywhere in the world.
The last major news with regards to the company actually emerged way back in March this year when LightInTheBox announced its financial results for the fourth fiscal quarter and the full year of 2020, both of which ended on December 31, 2020.
The company actually ended the year strongly and managed to deliver its best quarterly performance ever. In the fourth quarter, LightInTheBox generated revenues of as much as $133 million which reflect a year on year rise of as much as 78%. On the other hand, the revenues for the full year soared by 63% and hit $398 million.