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Saturday, June 19, 2021

Nova Lifestyle Inc (NVFY) Stock Rises 113.75% in after-hours: Here is What You Need to Know

Nova Lifestyle Inc is seeing a positive trend on Wednesday 10th march 2021, trading as the price surged 113.75% in the after-hours session on March 10, 2021. However, there was no recent news available to point for this activity.


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The latest news about the company

Earlier on January 27 2021, Nova Lifestyle announced that it’s going to launch a Healthline platform in Malaysia which would be a membership-based plan. The company said that they will be launching the new program through their website www.novahealthline.my on February 1, 2021. The company is going to introduce additional products soon and it will be only for Malaysian customers.

On the new venture the CEO, Chairperson and President of Nova LifeStyle Tawny Lam said that the company believed that the new membership-based platforms and rewards program will provide health-conscious consumers with an added benefit that goes above and beyond just a healthy lifestyle.

On December 02, 2020, the company introduced an online sales platform www.novahealthline.com  to distribute Healthline products manufactured by 3H Korea Co Ltd. 3H products are very famous in Southeast Asia for a healthy lifestyle. Some of the 3H products such as 3H 820 Acupressure BED and 3H Heating Belt are made up of hundreds of bioceramic stones. These ceramic stones are a good transmitter, transmit infrared rays through the heating process and can warm the strained area of the body.

Financial highlights of third-quarter 2020

The company announced financial results for the Three Months Ended September 30, 2020, on November 20,  2020. The company’s net sales were $3.3 million for the reported quarter. for the three months ended September 30, 2020, the cost of sales was $9.9 million. The company suffered an operating loss of $8.2 million.

Company Profile

Nova LifeStyle, Inc. is a U.S. company based in California is a well-established, innovative designer and distributor of modern lifestyle furniture such as sofas, dining room furniture, cabinets, office furniture and related components, bedroom furniture, jade mats and various accessories. Their main and famous products are Nova Brands and Diamond Sofa. Their products are famous because of urban contemporary styles that integrate comfort and functionality.

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