HomeTrending StocksWhy Jowell Global Ltd. (JWEL) stock couldn’t hold on to its early...

Why Jowell Global Ltd. (JWEL) stock couldn’t hold on to its early gains in the after-hours on Friday?

Jowell Global Ltd. (JWEL) shares declined 9.51% in after-hours on Friday, December 31, 2021, and closed the weekly trading at $19.50. However, in the regular trading session on Friday, JWEL’s stock gained 11.77%. JWEL shares have moved up by 17.12% in the past week. Over the past three months, the stock has gained 263.41%, while over the past six months, it has soared 250.69%.

Let’s have a brief look at its recent news and developments.


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JWEL Global 2021 Double 12 Shopping Festival

On December 28, 2021, Jowell Global Ltd. (JWEL), reported strong results from its 12-day 2021 Double 12 Shopping Festival. During the festival, the company generated over $9.7 million in gross merchandise volume, which is an extraordinary 74.7% growth from last year.

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JWEL partnership with Suzhou Dreamworker

On December 20, 2021, Jowell Global Ltd. (JWEL) announced a strategic collaboration with Suzhou Dreamworker Info-Tech Co., Ltd. Both companies will work together to set up a joint venture to provide warehouse and supply chain service in the U.S. by utilizing the overseas warehousing development experience of Suzhou Dreamworker and existing e-commerce platform of Jowell Global to form a more competitive global e-commerce presence.

JWEL latest financial results

On December 13, 2021, Jowell Global Ltd. (JWEL), reported its unaudited financial results for the third quarter ended September 30, 2021.

Q3 2021 financial highlights

  • JWEL reported total revenue of $43.8 million in Q3 2021 compared to $24.9 million in Q3 2020.
  • The total cost of revenue was $40.3 million in Q3 2021 compared to $24.9 million in the same period of 2020.
  • Total operating expenses were $45.9 million in the third quarter of 2021 compared to $23.4 million in Q3 2020.
  • It suffered a net loss of $2.1 million in Q3 2021, compared with a net income of $1.1 million in the same period of 2020.
  • The Company had cash and cash equivalents and restricted cash of $24.7 million at the end of the third quarter compared to the $18.2 million as of December 31, 2020.

JWEL Successful Singles’ Day Shopping Festival

On December 08, 2021, Jowell Global Ltd. (JWEL), announced strong results from its 12-day 2021 Singles Day Shopping Festival. The company generated over $18.5 million in gross merchandise volume (GMV) during the festival, which is an extraordinary 150% growth from last year.

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Conclusion

Well, there is no latest news behind its gains and loss on Friday. We hope that it will commence Monday trading in a positive mode.

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