Shares of Chinese e-commerce company LightInTheBox Holding (NYSE: LITB) fell Monday after the company provided investors with its unaudited third-quarter financial results. Business is up this year, and management's guidance for the fourth quarter suggests it could get even better. But the stock was nevertheless down by 15.8% as of 1:18 p.m. EST.
For Q3, LightInTheBox generated revenue of $100 million, up 67% year over year. And for the first three quarters of 2020, revenue is up 57% from the comparable period of 2019. Not only that, the company's gross margin has increased thanks to management's efforts to improve its supply chain and sell more profitable products.
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Why LightInTheBox Stock Crashed on Monday