An update from Charles & Colvard ( (CTHR) ) is now available.
Charles & Colvard announced a favorable interim arbitration award in its dispute with Wolfspeed, which originally sought $28 million in damages. The arbitrators rejected Wolfspeed’s claim for expectation damages, limiting Charles & Colvard’s liability to approximately $3.3 million, which includes $1.3 million for previous purchases and $2 million for consigned inventory, positively impacting the company’s balance sheet. The decision allows Charles & Colvard to focus on its business strategy without a long-term purchase commitment, a move the company believes will enhance its growth and profitability.
More about Charles & Colvard
Charles & Colvard, Ltd., founded in 1995 and based in North Carolina’s Research Triangle Park region, is the original creator of lab-grown moissanite, a rare gemstone made from silicon carbide. The company offers fine jewelry products using exclusively Made, not Mined™ above-ground gemstones and 100% recycled precious metals, with brands like Forever One™ moissanite and Caydia® lab-grown diamonds, focusing on bridal, high fashion, and everyday jewelry.
YTD Price Performance: -71.22%
Average Trading Volume: 16,012
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $3.68M
For detailed information about CTHR stock, go to TipRanks’ Stock Analysis page.