Charles & Colvard, Ltd.
Charles & Colvard, Ltd. is a manufacturer of Moissanite jewels, a rare mineral usually found in meteorites. The company is worldwide marketer of beautiful jewels, targeting the market for those looking for alternatives to the pricier, more traditional gemstones. Majority of the company’s crystals are acquired from Cree Inc. and the rest are supplied by Norstel AB.
Charles & Colvard prides itself on producing near colorless jewels, which are made of silicon carbide crystals. Their moissanite jewels, widely available in the international market, are cut in different shapes, and buyers can choose from the classic round and square varieties to the interesting pear and baguette cuts. Moissanite is gaining increasing interest from jewelry buyers, primarily because of its similarity to diamonds. It has become a practical alternative for expensive diamond engagement rings.
The company was recognized as one of America’s fastest growing small public companies by Fortune Small Business’s Top 100 list in 2006.
STOCK MARKET INFO
Charles & Colvard produced total revenue of 3.64 as of June 2008, while their gross profit is 2.09. Total current assets stand at 25.51 and total current liabilities are at 2.36.
BASIC STOCK MARKET/FINANCE INFO
Vanguard Group Inc. has sold more than 99% of their shares in Charles & Colvard, reducing to their current holdings to 470 shares.
RECOMMENDATION
Hold on to your stocks. Even though the market for moissanite is still not as solid as the traditional gemstones, there is an increasing interest from those who want to buy beautiful jewelry at reduced prices. Improved market positioning for moissanite jewels will eventually encourage investing for manufacturers such as Charles & Colvard.
