Tuesday, September 28, 2021

Delisting Threat Looms as ToughBuilt Industries, Inc. (TBLT) Stock Prices Gain Momentum

ToughBuilt Industries, Inc. (TBLT) stock prices sat at USD$0.8573, having seen a 0.56% upswing as of market close on April 14th, 2021. Investors hope this trend continues to extrapolate the long-term shift from a 2019 common stockholder loss of USD$2.08 per share, to USD$0.68 per share in 2020.


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TBLT Last Reported Financials

The year-over-year improvement in returns to shareholder came alongside their 2020 fiscal year report of revenues having gone up by an impressive 106% in 2020 compared to 2019, with TBLT raking in USD$39.4 million in the year ended December 31st, 2020. This is compared to USD$19 million in revenues over the course of 2019. Gross profit was also up, climbing from USD$5.6 million in 2019 to USD$14.7 million, an increase of 162%.

Regaining Nasdaq Compliance


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Despite these improved financials, TBLT is still making its way to profitability, with analysts suggesting a breakeven point for the fiscal year of 2023. At first glance, the news in February that TBLT had regained Nasdaq compliance in order to be listed seems promising. This news followed TBLT stock prices managing to stay above the USD$1 mark for a consecutive 20 business days from January 12th, 2021 to February 8th, 2021.

Nasdaq Extension

However, what problematizes this development is that TBLT stock needed a 180-day extension from Nasdaq to meet those requirements, granted to it on January 21st 2021. This does not inspire the greatest confidence in current and prospective investors.

Problematic Trend

Many are noticing a TBLT trend over time, wherein it is delisted and then regains Nasdaq compliance. The regaining of Nasdaq compliance was reported on January 2nd, 2020 before being delisted again. Compliance was regained on April 29th, 2020. This has increasingly frustrated long-term investors and is likely to deter potential investors fearing a permanent delisting from which it would be very difficult for the company to recover.

Moving Forward

Nevertheless, TBLT stock prices recouped much earlier than the July 19th, 2021 deadline granted by Nasdaq. It remains to be seen if TBLT stock prices can stay afloat consistently overtime to avoid being further delisted and the resulting shaking of investor confidence.

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