Xcel Brands (NASDAQ:XELB) stock is on the move Monday despite a lack of news concerning the company.
The jump in price for XELB stock comes alongside heavy trading of the shares. As of this writing, more than 14 million shares of the stock have changed hands. To put that in perspective, the daily average trading volume for the stock is only about 491,000 shares.
So why exactly is XELB stock up on Monday? It looks like day traders are to thank for the rising price of the stock. There’s chatter on social media about the company that is likely what has it heading higher today.
With that in mind, here’s everything potential investors in XELB stock need to know about the company before investing.
- Xcel Brands is a consumer products company that handles various parts of the commerce business.
- That includes the “design, production, licensing, marketing, direct-to-consumer sales and social commerce of branded apparel and related lifestyle products.”
- Its product offerings include “footwear, accessories, jewelry, home goods, health & beauty and other consumer products.”
- The company also engages in the acquisition of consumer lifestyle brands.
- Brands under the company include Isaac Mizrahi, Judith Ripka, Wonder, Halston, Gigi Parker, and Longaberger.
- Xcel Brands reported revenue of $42 million for the full year of 2019.
- That’s a 20% growth in revenue when compared to the previous year.
- The company was founded in 2010 and went public in 2015.
XELB stock was up 18.8% as of noon Monday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.