|Bid||3.000 x 1100|
|Ask||3.090 x 1200|
|Day's Range||2.5700 - 3.0400|
|52 Week Range||0.8200 - 5.5500|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
closed up a stunning 156.8% to $3.21 Wednesday after the tools company said it launched an agreement to sell its products in Menards Inc.'s home improvement store. ToughBuilt CEO Michael Panosian said in a statement, the Lake Forest, Calif.-based company will supply tools and home-building accessories under both the ToughBuilt brand and private label. "Overall, we are consistently gaining traction expanding our network in the U.S. and abroad given what we believe to be the superior quality and strong appeal of our products within both the do-it-yourself and professional markets.
Shares of ToughBuilt Industries Inc. nearly tripled--soaring 186%--in very active trade Wednesday, enough to pace the gainers on the Nasdaq exchange, after the tools and building accessories company said it launched product sales within Menards Inc.'s home improvement store. Volume spiked to 24.7 million shares at 1 p.m. Eastern, compared with the full-day average of about 328,000 shares. Wisconsin-based Menards has more than 300 stores in the Midwest. The launch of sales comes after it previously reached a distribution agreement. ToughBuilt completed its initial public offering in November.
TBLTW), a leading designer, manufacturer and distributor of innovative tools and accessories to the building industry, today announced it has formally launched product sales following an earlier distribution agreement with Menards, Inc. (Menards®), a leading midwestern home improvement chain. A family-owned company started in 1958, Menards is headquartered in Eau Claire, Wisconsin and has more than 300 home improvement stores located in Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin and Wyoming.
"It is my sincere pleasure to address you through this letter and inform you of the progress, opportunities, and potential of ToughBuilt. I hope to use this letter as a means to highlight the foundation we have built, but more importantly, the work we will do to make our company successful. As we start the new year, I wanted to share an overview as to what has transpired at ToughBuilt, focusing on what has taken place during last year and why we are so excited about the future. In November 2018, we completed our Initial Public Offering and started trading on the NASDAQ Capital Market under the ticker symbol “TBLT.” We raised $13.35 million which will go towards sales and marketing, developing new products, increasing production capacity, and for general corporate purposes.