Live Ventures (NASDAQ:LIVE) stock is soaring higher on Wednesday after the company reported results for its fiscal 2020 year.
The holding company’s earnings report saw it bring in adjusted earnings per share of $6.40 on revenue of $191.7 million. To put that in perspective, adjusted EPS is a positive change from losses per share of $2.11 for fiscal 2019 but its revenue is down almost 1% from $193 million during that period.
Investors are taking an interest in Live Ventures after the release of its earnings report and shares are seeing heavy trading today. As of this writing, some 3 million shares of LIVE stock have changed hands. That’s a massive spike compared to its daily average trading volume of only about 7,000 shares.
With potential investors eyeing LIVE stock, we’ve got a quick breakdown below educate them before they pull the trigger.
- Live Ventures is a holding company that focuses on acquiring other businesses that are already profitable.
- One of its larger subsidiaries is Marquis Industries, which handles the manufacturing and sale of carpets and hard flooring in North America.
- Another of its subsidiaries is steel manufacturer Precision Marshall.
- Precision Marshall handles steel sales in the Deluxe Alloy Plate, Deluxe Tool Steel Plate, Precision Ground Flat Stock, and Drill Rod categories.
- Vintage Stock is the company’s entertainment retailer and it handles the sale of movies, games, and other products through its various locations ad website.
- ApplianceSmart is another subsidiary of Live Ventures with its main business being the sale of large home appliances in the U.S.
LIVE stock was up 86.5% as of noon Wednesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.