Charles Colvard Ltd (CTHR)

Charles & Colvard, Ltd. (CTHR) dropped by 27.88% from $0.5659 to $0.4081 in the trading on Friday October 13, 2023. The reason why CTHR stock down today is due to the Q4 and fiscal year 2023 results in the challenging macroeconomic backdrop and weakened consumer outlook created significant headwinds on the jewelry and gemstone industry.

• Net sales of $5.6 million for Q4, a decrease of 40% from $9.3 million in the year-ago quarter.
• Gross loss was $5.0 million for Q4, compared to gross profit of $3.8 million in the year-ago quarter. Net loss was $9.3 million, or $0.30 loss per diluted share.
• Net sales decreased 31% to $29.9 million for the fiscal year 2023, compared to $43.1 million in the year-ago period.