Friday’s jobs report demonstrated that the economy added 263,000 jobs in November, much more than the 200,000 expected by economists, according to Dow Jones. Payrolls were also revised higher to 284,000 in October. But the market reacted more to the fact that wages increased by 0.6%, double what was expected by economists. Strategists expected the Fed to remain on track to raise interest rates by a half percentage point in December. This could pose a risk to the year-end rally. However, there are several stocks that have lagged this year and could bounce in the next quarter. These include but not limited to Mohawk Industries ( MHK), Pininterest Inc (PINS), Snowflake Inc (SNOW), Bumble Inc (BMBL), Salesforce Inc (CRM), Expedia Group Inc (EXPE), Adobe Inc (ADBE) and FedEx Corp (FDX).
One small cap that we would like to draw your attention to is Maison Luxe, Inc. (OTC US: MASN). As per yahoo finance (1), Maison Luxe offers luxury retail consumer items. The Company operates as a niche high-end luxury goods retailer, helping interested consumers obtain rare luxury items that may otherwise not be reliably available due to the nature of the luxury retail marketplace. The Company focuses its efforts primarily within the fine timepiece and jewelry segments, both on a wholesale and B2C (business-to-consumer) basis. The Company also owns its Amani Jewelers subsidiary, which operates in the jewelry marketplace, with a strategic focus on the rapidly growing lab-grown diamonds market. In addition, Maison Luxe holds a significant investment position in Aether Diamonds, which was founded in 2020 as the world's first known captured carbon lab-grown diamond producer.
On November 17th, Maison Luxe (OTC: MASN) reported revenues for the quarter ending September 30, 2022, of $3,711,167 compared to revenues of $2,713,405 for the quarter ending September 30, 2021, representing an increase of over 35%. Net loss for the period was $958,699 as compared to a loss of $1,386,573 in the year-ago period (1).
Anil Idnani, CEO of Maison Luxe, stated, “We are pleased with the sustained revenue growth at Maison Luxe. We continue to build our operations and new product lines, such as our Kicks On Demand division, in order to diversify our product mix and increase our footprint in the luxury goods marketplace. We are looking forward to the upcoming holiday period, historically our busiest and most successful time of year.” Due to its new retail outlets and partnerships, as well as the upcoming Caribbean cruise travel season, the Company is looking to increase revenues for the holiday period.
MASN had also recently launched the Luxury Sneaker division, Kicks on Demand, which has exceeded Company sales expectations with more than $50,000 in sales during its initial test run. The Company previously announced its plan to enter the secondary market for luxury sneakers, which according to Business Insider is projected to reach an estimated $30 billion globally by 2030, as a complement to its luxury timepiece operations (2).
MASN stock is trading at a mere $0.0049 with a 52-week high of 15 cents suggesting a significant upside potential. With all the recent developments and increases in revenues could this stock turn out to be a sleeping giant ready to be awakened? Start your due diligence now and as always follow traders' vigilance.
For more info on MASN, Watch this Video NOW
Video Link: https://www.youtube.com/embed/rfN-n-hJSrs
Other stocks taking centerstage include Shuttle Pharmaceuticals Inc (NASDAQ: SHPH), Cosmos Holdings Inc (NASDAQ:COSM), Anavex Life Sciences Corp (NASDAQ:AVXL) and Zhihu Inc (NYSE:ZH)
Reference 1. https://finance.yahoo.com/news/maison-luxe-reports-revenues-approximately-154300001.html
Reference 2. https://finance.yahoo.com/news/maison-luxe-successfully-launches-kicks-130000132.html
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