ToughBuilt Industries Shares Jump 40% On Sales Growth

(RTTNews) - Shares of nano-cap company ToughBuilt Industries Inc. (TBLT) surged over 40% in extended session on Thursday after the company reported significant year-over-year sales growth of 118%.

ToughBuilt said its gross sales through Amazon.com increased 118% to around $5.48 million for the first half of 2021, compared to about $2.51 million in the first half of 2020.

CEO Michael Panosian said, "The significant momentum of our Amazon.com sales in the first half of 2021 reflects the increasing strength of our brand across all product lines with professional and DIY builders throughout North America. As our online presence expands into Canada and Mexico, and US sales continue to increase, we are simultaneously expanding our geographic footprint and launching new SKUs to capitalize on the strong demand for our innovative designs and features."

TBLT closed Thursday's trading at $0.72, down $0.01 or 1.52%, on the Nasdaq. However, in the after-hours trading, the stock gained $0.31 or 42.98%.