Long Position on LOVE @ $43.50 on 12/22/2020 (Fundamentals)

The Lovesac Company (LOVE) designs, manufactures, and sells foam filled furniture, sectional couches, and related accessories.

The company offers sactionals, such as seats and sides; sacs, including foam beanbag chairs; and accessories comprising drink holders, foot sac blankets, decorative pillows, fitted seat tables, and ottomans.

It markets its products through its approximately 91 showrooms at top tier malls, lifestyle centers, and street locations in 35 states of the United States, as well as through online.

The Lovesac Company reported 3rd Quarter October 2020 earnings of $0.16 per share on revenue of $74.7 million. The consensus estimate was a loss of $0.88 per share on revenue of $65.6 million. Revenue grew 43.5% on a year-over-year basis.

As this stock continues to move higher each day following it's 48.6% increase in share price over the last month, as its continues along its "bullish flag" formation.

Entry Point: $43.50

Trading Range: $3.99 - $44.90

Stop Loss: $41.35

Target Price: $47.90

Updates

1/11/2021 11:18:26 AM

LOVE closed at $48.65

Position closed on 1/11/2021 at price of $48.65 with a 11.84% gain in 20 days.

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