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SFLMaven Corp (OTCMKTS:SFLM) Stock Continues To Fall: Down 20% In a Week

Ash K , , , ,

Shares of FLMaven Corp (OTCMKTS:SFLM) have been under selling pressure over the past few sessions with a fall of 20% in the past week.

(CORRECTION) SFLMaven Sees Weekly Sales Top $202k on Strong Demand and Premium Items

Leading provider of high-end luxury goods, FLMaven Corp (OTCMKTS:SFLM) On February 15, 2022 announced that the firm witnessed over $202k in total sales for the week ending February 10, 2022. FLMaven Corp’s “Famous Thursday Night Auction” event had incredible sales activity and pulled in more than $400k in its last two auction events. Highlighted by the sale of an 18K gold 10.20CTW VS diamond tennis bracelet, selling for $8,000 as well as a rare vintage Patek Philippe Gondolo watch selling for $6,200.

CEO Joseph Ladlin said that the company went ahead with some beautiful pieces during the week and consumers paid additionally for them. Ladin added that quarter four of the previous year witnessed a significant jump in average price per sold item. The CEO said that it would not be surprising to see the spike again this quarter when books are closed.

The company opined a number of tailwinds exist for the company currently in the jewelry space including robust demand as well as the competitive advantage of the sourcing side. Ladin views these as positive trends as it looks at implementing the Metaverse strategy.

SLF Maven has known the Thursday Night Auction events on the top-rated eBay store, where it has driven more than $140 million in sales since the beginning, earning over 100k positive reviews.

Key Quote

“We parted with some truly exquisite pieces this week, and we saw plenty of eager consumers willing to pay top dollar for them,” noted Joseph Ladin, CEO of SFLMaven. “Q4 of last year saw a big bump in average price per item sold. I wouldn’t be at all surprised to see that jump again this quarter when the books are closed. We have a number of tailwinds at our back right now in the jewelry space, including strong demand and a competitive advantage on the sourcing side, and we look forward to riding those positive trends as we get closer to fully implementing our Metaverse strategy.”