This morning it is fairly likely that the Maison Luxe Inc (OTCMKTS:MASN) stock is going to come into focus among investors considering the fact that this past Friday it had managed to clock gains of as much as 10%. Before getting into the development that may have led to the rally, it is important for investors to get a better idea about the company’s business.
Trading Data
On Friday, MASN stock moved up 14.30% to $0.0120 with more than 5.29 million shares, compared to its average volume of 1.08 million shares. The stock moved within a range of $0.0100 – 0.0120 after opening trade at $0.0110.
About The Company
As the name suggests, Maison Luxe is involved in the luxury consumer retail items space and is regarded as a niche luxury good provider. The company is involved in providing luxury goods that may not have been possible for the consumer to obtain under normal circumstances.
The nature of the luxury retail marketplace is such that certain products may not be made available widely. This is where Maison Luxe comes into play. Maison Luxe is primarily involved in the luxury jewelry and timepieces category, in both business-to-consumer as well as wholesale spaces.
However, that is not all. It is also important to keep in mind that the company also made a major investment in the captured carbon lab-grown diamond-making company Aether Diamonds. Aether had been established back in 2020.
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The company had actually come into focus back on June 30 after it announced its financial results for the fiscal year that had ended on March 31, 2022. The company announced that it had managed to bring in revenues to the tune of $17645898 for the period and that was a major jump from the revenues of $5284154 in the previous fiscal year.
It reflected a year-on-year rise of a massive 300% and hence, the excitement among investors was quite understandable. It is now going to be interesting to see if the stock can manage to continue on its upward move over the course of this week or not. Due to the coronavirus crisis, the growth projection of the global luxury goods market has also been revised and now it is expected to grow into a $296.9 billion market by 2026. That reflects a CAGR of 4.8% from now on.
Key Quote
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Technical Data
MASN stock is trading below the 20-Day and 50-Day Moving averages of $0.0201 and $0.0342 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0664.
