SFL Maven Corp. (OTC: SFLM) has been busy making profits since 2003 through the sale of high-end luxury goods on eBay. A well established seller on eBay, SFL Maven has been on a winning streak since February when SFLM took in $252 thousand in total sales over just one week. Most of that money was from the company’s “Famous Thursday Night Auction” which indicates the strong following the company has as a seller via this platform. Given its profitable sales model and entrance into the Metaverse, SFLM could be one of the stocks about to explode this year.
SFLM Stock News
Currently, SFLM has over 22 thousand followers for its eBay store with over 99.9% positive feedback on over 228 thousand items sold. This is no easy feat considering that there are 17 million sellers on eBay and over 147 million active buyers. This makes eBay the second largest online marketplace in the US with over 688 million visitors a month. Clearly there is a lot of competition among not just buyers but sellers too which is why SFLM’s performance over the last two months is impressive and could be a sign that SFLM is one of the stocks about to explode in 2022.
During the last week of February, the company booked an additional $319 thousand in total sales – a 26% increase from the week before. These sales impressed even the CEO Joseph Ladin who said, “this performance blew out even our elevated expectations” before adding that these sales put the company well above $1 million in sales for those four weeks alone.
The strong demand for the company’s core jewelry segment could be triggered by the rising prices for gold which make SFLM’s items even more valuable. According to George Milling-Stanley – Chief Gold Strategist at State Street Global Advisors – the numbers for 2021 show that demand for gold jewelry was up 50% worldwide. He went on to add that in “the fourth quarter of 2020 we saw the beginnings of a rebound from the disastrous year of 2020 – not enough to make up for all that had gone wrong in jewelry during 2020 – but that rebound got stronger last year and we believe that there is still scope for an increase in jewelry demand this year”.
With this in mind, the outlook for SFL Maven is looking promising and its weekly sales reflect that. By March 3rd, SFLM had secured another $298 thousand in weekly sales and by the next Thursday SFLM surpassed its own record for weekly sales with another $362 thousand. Part of this sales growth is due to the addition of another core team-member who has been stepping up the team’s operations – contributing to a roughly 20% bump in sales so far.
On top of that, SFLM achieved 10.63 million web impressions over just that one week and a total of 96 thousand page views. Building on this, SFLMaven is launching a fresh new website and logo to improve their web presence. With almost double-digit organic growth in this first quarter SFLM’s management believes the company could drive more than $12.5 million in jewelry sales in 2022 which would be 16-20% YOY growth for the company.
This momentum is one reason why SFLM is taking advantage of new opportunities in the Metaverse. SFLM has been preparing to purchase land in Decentraland in order to establish a jewelry store within the Metaverse. From this location, SFLM will market and sell high-end jewelry NFT items for avatar’s – making SFLMaven the Metaverse’s first jeweler. This is definitely an ambitious move – but SFLM is no stranger to bold strategies.
In 2003, SFLM was one of the first to see the opportunities of ecommerce and it seized this chance making it one of the first jewelers to operate online. As its CEO Ladin put it, SFLMaven has built its “success over the last two decades by embracing ‘Tomorrow’ […] First it was the Internet. Then it was eBay. Now, ‘Tomorrow’ is the Metaverse.”
SFLM has since purchased a plot in Decentraland very close to a major road and one of the major Decentraland plazas. Their location is adjacent to a very large plot that has already been acquired and if that plot is developed by a major corporation – then SFLM could be in one of the best locations. With its location already established, SFLM will soon be taking its metaverse store live as it markets its one-of-a-kind jewelry NFTs – potentially making it one of the stocks about to explode in 2022.
This investment in real estate could pay off significantly as Metaverse land is likely appreciate in value as mass adoption of the Metaverse takes place. According to Wall Street this move could pay off in a very big way. The biggest names in investment from Goldman Sachs and Bank of America to Morgan Stanley and JPMorgan have predicted the eventual mainstream adoption of the metaverse across many industries – possibly creating a new multi-trillion-dollar facet of the economy.
This is why major brands like Gucci, Balenciaga, Selfridges, and Louis Vuitton are already making NFT versions of their products for avatars to purchase and wear in the Metaverse. Like these fashion brands, SFLM is betting that consumers will be invested in both their real world and metaverse identities which is why rare pieces made of precious stones and metals will also have enormous value in digital form.
This type of ahead of the curve thinking is what made SFL Maven a leader in the e-commerce space with over $150 million in sales to date. With everything in place for its transition, SFLM is ready to make its way in the Metaverse and achieve as much success there as it has in the real world.
To set its business on the right course, SFLM has hired a contractor to act as the lead designer and creative art director for its metaverse presence. While their identity hasn’t been revealed yet the contractor currently works as head of product design at one of the nation’s top financial institutions and he has already established a team with a firm understanding of the metaverse.
This comes at a time when the company is on a strong financial footing. According to SFLM’s YTD unaudited performance highlights, total sales are up 26% YOY while auction sales are up 30% YOY. According to Ladin, “2022 has dramatically exceeded our expectations thus far”. With only a few “Famous Thursday Night Auctions” left in the quarter SFLM has already matched its performance in the last quarter and at this pace “could be tracking toward a new threshold of success even without including projections related to the additional value we stand to potentially drive as our metaverse digital store goes live this year.” If this is the case, then SFLM could be one of the stocks about to explode in 2022.
Media Sentiment
@adastral_trader is watching SFLM’s performance as it announces YTD performance
@AngryRed213 took notice of SFLM’s investment in Metaverse real estate
Technical Analysis
SFLM is trading at only $.0012 after downtrending more than 92% from its 52 week high of $.02. SFLM rebounded from its new low of .008 putting its secondary support at .0011and its primary resistance at .0014 with a secondary resistance at .0021. Despite announcing its Decentraland purchase, SFLM has seen little action and the RSI is now at 46 with a bearish MACD. However, accumulation has been increasing rapidly since the start of February which could be a sign that SFLM is one of the stocks about to explode in 2022.
Considering that SFLM is at a new low, this is likely a good entry point for investors bullish on the company’s metaverse plans and the rising demand for gold products. The company has a low market cap of only $2.2 million with 1.3 million unrestricted shares and a float of around 640 million.
SFLM Stock Forecast
With the launch of SFLM’s Decentraland store coming soon, the company’s notable year to date financial success, growing online presence, and more, SFLM could be one of the stocks about to explode in 2022. As the Metaverse develops, it could be worthwhile to watch how demand for avatar jewelry grows in the coming years. Its rare to see the major names of Wall Street and fashion in agreement, and SFLM is in a position to successfully capitalize on its first mover advantage in this sphere.
If you have questions about SFLM stock and where it could be heading next feel free to reach out to us in our free alerts room!
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