The news of the 2-for-1 Common Stock Split announced earlier today by Novori Inc. (NOVO) was well received by investors sending the shares higher. The Company stated the goal of the action was designed to increase tradable shares and create an attractive market price for investors. Further, the action relects the continued confidence in the long term outlook for the Company.
NOVO operates in an exciting niche sector. Forrester’s Research recently confirmed that the online jewelry sales industry is skyrocketing and expected to grow from $2.1 billion in 2005 to $8 billion in 2010.
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