When a stock makes a strong recovery, it is often a good time for investors to sit up and take notice.
On Tuesday, it was the ToughBuilt Industries Inc (NASDAQ:TBLT) stock that managed to recover strongly after it clocked gains of as much as 18% for the day. It cannot be denied that the rally in the stock was a strong one but it should also be noted that despite the recovery the stock is still down by 32% over the course of the past month.
Trading Data
On Tuesday, TBLT stock moved up 17.60% to $0.2863 with more than 2.03 million shares, compared to its average volume of 2.40 million shares. The stock has moved within a range of $0.2500 – 0.2896 after opening trade at $0.25.
Latest News
Could this be the sign of a longer term recovery? In order to figure that out, investors need to take a look at the announcement from the company yesterday.
The company announced yesterday that its sales through the ecommerce platform Amazon during the fiscal year that had ended on December 31, 2021 came in at around $11.9 million. That reflected a year on year rise of as much as 68.5% from the $7.1 million in sales that had been generated last year. The spike in ecommerce sales on Amazon is a major development for the company and led to significant bullish sentiments about the ToughBuilt stock among investors.
Technical Data
TBLT stock is trading below the 20-Day and 50-Day Moving averages of $0.33 and $0.38 respectively. However, the stock is trading below the 200-Day moving average of $0.58. The stock is down 31% in the past month.
