Latest news for Pandora (OTC:PNDZF) Stock

Pandora is a premium jewelry brand and the market leader in the charm bracelet category. The company was established in the 1980s in Denmark and since then has expanded globally. Pandora has over 2,500 concept stores globally (1,600 owned and operated, and the remainder run by its franchise partners) as well as multibrand locations and stores-in-stores. Pandora owned retail accounts for 51% of sales, own online channels for 21% and wholesale for the remainder. Charms and bracelets account for almost three fourths of its sales. The firm produces mostly internally in two jewelry-crafting facilities in Thailand.

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The iPhone app for BitMart, a cryptocurrency exchange associated with quick listing of meme coins such as Shiba Inu (SHIB) and SafeMoon (SAFEMOON), gained ground on Apple Inc’s (NASDAQ: AAPL) App Store.

SafeMoon, Shiba Inu Bring Little-Known Crypto Exchange Ahead Of Tinder On iPhone App Store Chart

Pandora A/S (OTC: PNDZF), the Denmark-headquartered jewelry manufacturer and retailer, has announced it will no longer use mined diamonds in its product line.

Pandora Stops Using Mined Diamonds, Switches To Lab-Grown Gems

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Pandora

The iPhone app for BitMart, a cryptocurrency exchange associated with quick listing of meme coins such as Shiba Inu (SHIB) and SafeMoon (SAFEMOON), gained ground on Apple Inc&rsquo;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) App Store.

What Happened: BitMart&rsquo;s app was placed on the no. 64 spot on the chart of top iPhone apps, in terms of downloads,&nbsp;compiled by SensorTower, a market intelligence provider.

The cryptocurrency exchange desk was placed ahead of Tinder, a popular dating service of Match Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>).

The applications of Uber Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NASDAQ">UBER</a>) food delivery service Uber Eats, and Pandora A/S (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PANDY#OTC">PANDY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PNDZF#OTC">PNDZF</a>) also trailed BitMart in the App Store rankings.

SAFEMOON traded 9.44% lower at $0.0000084 at press time on a 24-hour basis, while SHIB traded 21.05% lower at $0.00003. SAFEMOON has risen 93.67% on a seven-day trailing basis, while SHIB has skyrocketed 1,429.09% in the same period.

See Also: <a href="https://www.benzinga.com/money/how-to-buy-shiba-inu/" style="text-decoration-line:none">How to Buy Shiba Inu (SHIB)</a>

The apex cryptocurrency, <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment/" style="text-decoration-line:none">Bitcoin</a> (BTC) traded 4.19% higher at $57,280.97.

Why It Matters: BitMart app was downloaded 300,000 times in April all over the world, according to SensorTower data.&nbsp;

The same data indicates that the application of Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) was the top free app on the marketplace and was downloaded 2 million times globally in April.

The Cayman Island-based BitMart has offices in New York, Seoul, Hong Kong, and Greater China. The exchange saw a trading volume of $1.3 billion, as per CoinMarketCap.

In terms of active markets, SAFEMOON/Tether (USDT) and SHIB/USDT were ranked at no. 3 and no. 4 spots on BitMart by CoinMarketCap.

Price Action: Apple shares closed nearly 0.7% lower at $125.91 in Thursday&rsquo;s regular session and fell another 0.15% in the after-hours trading.

Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/21/05/21074641/shiba-inu-sister-token-a-literal-dogecoin-killer-has-soared-650-this-week-what-you-need-to" style="text-decoration-line:none">Shiba Inu Sister Token, A Literal Dogecoin Killer, Has Soared 650% This Week: What You Need To Know</a>

Pandora A/S (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PNDZF#OTC">PNDZF</a>), the Denmark-headquartered jewelry manufacturer and retailer, has announced it will no longer use&nbsp;mined diamonds in its product line.

What Happened: The company is replacing the mine-based gems with a diamond collection created in laboratories. According to the company, lab-created diamonds are identical to mine-excavated diamonds and share the same optical, chemical, thermal and physical characteristics.

The lab-grown diamonds are being branded under the Pandora Brilliance banner and will initially be sold in the U.K. before a wider international launch in 2022.

Why It Happened: Pandora&rsquo;s decision to drop mined diamonds is the latest effort by the company to incorporate sustainability into its product creation. Last June, the company announced it would cease relying on newly mined gold and silver and switch to using recycled precious metals in its jewelry.

&ldquo;They are as much a symbol of innovation and progress as they are of enduring beauty and stand as a testament to our ongoing and ambitious sustainability agenda,&rdquo; said CEO Alexander Lacik. &ldquo;Diamonds are not only forever, but for everyone.&rdquo;

See Also: <a href="https://www.youtube.com/watch?v=igBMREHuyHw">Benzinga Stock Market Live: Don&#39;t Blindly Follow Traders On Social Media</a>

What Else Happened: Pandora also reported its Q1 earnings this morning, with $727.6 million in revenue, up from $674.6 million in 2020 but considerably lower than $3 billion in 2019.

On the plus side, the company reported an increase in U.S. consumer demand due to the infusion of federal stimulus checks, with&nbsp;online sales&nbsp;up 136% year-over-year. Pandora upgraded its full-year guidance from above 8% to above 12% and its EBIT margin from above 21% to above 22%.

On the downside, 30% of Pandora&rsquo;s worldwide retail stores were closed due to the continuing COVID-19 pandemic while the company acknowledged its China sales continued to be weak.

&ldquo;Today, we can turn the page on the next chapter for Pandora and announce our new strategy, moving us from turnaround to sustainable growth,&rdquo; said Lacik.

PNDZF Price Action: At last check Tuesday morning, Pandora was trading at $116 a share.

(Marilyn Monroe performing &ldquo;Diamonds Are a Girl&rsquo;s Best Friend&rdquo; from the 1953 film &ldquo;Gentlemen Prefer Blondes.&rdquo; Photo courtesy of Cinema Crazed.)

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