The Tools & Accessories sector is showing real weakness. One of the stocks we follow, Chervon Holdings Limited (out of China, listed on OTC in the US) was down 41% today. We looked and could have bought a few shares today, it was a bona-fide bid ask spread of only about 10 cents. This firm is a substantial, but smaller market cap competitor to ToughBuilt. It is worth looking into for due diligence, and it reflects on the weakness across the tools sector. $CHRHF is the ticker, listed on Other OTC. It looks like it went public on October 1, 2022 for $4.00 per share, and has barely traded until later in 2023. We will do a little more homework on this stock.
It is still too big for ToughBuilt to consider acquiring, but it would give them a strong manufacturing base in Asia.
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Stock Market BLOGJeffrey CohenPresident and Investment Advisor Representative Archives
November 2024
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