Novori Incorporated, an online high-end jeweler, is currently trading at $0.23 per share, which is close to its 52 week low of $0.15. HotOTC.com believes that Novori Inc. is the most undervalued play out of all online diamond and fine jewelry retailers. They foresee the industry going crazy in the future as more people look towards online sales for all types of goods. According to Forrester Research, online retail sales will nearly double within five years, from $172 billion in 2005 to $329 billion in 2010.
The CFO of Novori, Mark Neild, commented briefly after the release of Novori's newest product line, The Sareen Collection, saying, “Having online exclusivity is very important to us, and is a strategy that we will continue to vigorously pursue. The Sareen Collection is a very attractive and unique product offering of extremely high quality. We are committed to offer our customers exceptional quality such as this and it is doubly pleasing that this collection is also unavailable at any other website.”
After the late 2006 release of the movie "Blood Diamond", the diamond buying community has been very concerned with the origins of diamonds. Novori ensures that their diamonds are conflict-free diamonds. Another important note on the company is that it prides itself on the highest quality standards in the industry and provides consumers with unique online tools that allow them to explore, build and purchase their own custom-made diamond rings in a way not previously offered by traditional retailers.
Although the company's financials have yet to be filed with the SEC, on March 27th they announced that unaudited third quarter sales for 2008, compared to third quarter 2007, have increased 36.5%. Year-to-date sales from 2007 to 2008 are up 43.6%. With positive sales trends and increasing demand in the entire market, it may be hard to believe that the stock is only trading at $0.23 cents.
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