Charles & Colvard Stock Price, News & Analysis

Charles & Colvard, Ltd. (CTHR) is a fine jewelry company that specializes in moissanite and lab-grown diamonds. Classified in the jewelry stores industry within the retail trade sector, the company focuses on bringing what it describes as ethical and exquisite fine jewelry to market. According to multiple company disclosures, Charles & Colvard positions itself as the original creator of lab-grown moissanite, a rare gemstone formed from silicon carbide, and emphasizes the use of above-ground gemstones and recycled precious metals.

Charles & Colvard was founded in 1995 and is based in North Carolina's Research Triangle Park region. Over time, it has developed branded gemstone and jewelry offerings built around its moissanite and lab-grown diamond expertise. The company highlights its Forever One™ moissanite brand and its Caydia® lab-grown diamond brand, which it associates with quality, value, and a conscious approach to bridal, high-fashion, and everyday jewelry. These brands appear repeatedly in press releases describing its engagement, bridal, anniversary, and fashion collections.

Business focus and product themes

Across its public communications, Charles & Colvard consistently describes its mission as bringing "revolutionary gems and fine jewelry" to market using exclusively Made, not Mined™ above-ground gemstones and a dedication to 100% recycled precious metals. This framing underscores the company’s focus on lab-grown gemstones and sustainability-oriented messaging. Its product lines span engagement and bridal jewelry, anniversary pieces, and fashion-oriented designs, all centered on moissanite and lab-grown diamonds.

The company’s disclosures also reference both consumer-facing jewelry and business-to-business activity. In particular, Charles & Colvard has discussed wholesale distribution channels and an online wholesale portal, Charles & Colvard Direct, which offers its Forever One™ and Forever Bright™ moissanite product brands and lab-grown diamonds to approved retailers and independent jewelers. These statements indicate that the company addresses both end consumers and trade customers within the gemstone and jewelry ecosystem.

Moissanite and lab-grown diamond positioning

Charles & Colvard repeatedly identifies itself as the original creator of lab-grown moissanite and describes moissanite as a rare gemstone formed from silicon carbide. The company’s communications highlight moissanite’s brilliance and durability and, in partnership announcements, reference efforts to reinforce quality standards and authenticity. Through its Forever One™ brand, the company associates its moissanite with standardized grading and quality measures, including collaboration with recognized gemological organizations to provide grading reports for moissanite gemstones and jewelry.

In addition to moissanite, Charles & Colvard has expanded its focus on lab-grown diamonds. Press releases describe its Caydia® lab-grown diamond brand and note initiatives to broaden lab-grown diamond jewelry assortments and to offer loose lab-grown diamonds through its wholesale platform. The company has also disclosed a strategic investment and supply chain partnership with Ethara Capital LLC, an affiliate of Bhanderi Lab Grown Diamonds Inc., which it characterizes as one of the largest lab-grown diamond growers in the world. This relationship is framed as supporting an expanded, vertically integrated, and global supply chain of CVD lab-grown diamonds for the company.

Channels, partnerships, and distribution

Charles & Colvard’s public statements describe several key channels and partnerships. It references online platforms for direct-to-consumer jewelry sales and a B2B portal that allows approved retailers and independent jewelers to browse and purchase certified and non-certified loose lab-grown diamonds and moissanite products. The company also highlights engagement with retailers and distributors in what it calls its Traditional segment, although detailed segmentation beyond that label is not provided in the supplied materials.

The company has announced a strategic partnership with VideoShops, a social commerce network with a large base of sellers. In that announcement, Charles & Colvard explains that its fine jewelry offerings will be available through customer-run storefronts on the VideoShops platform, enabling customers, brides, stylists, and jewelry enthusiasts to shop and potentially earn commission income by sharing products. This partnership is presented as a way to create socially driven, performance-based sales activity around the company’s Made, not Mined™ jewelry, including Forever One™ moissanite and Caydia® lab-grown diamond products.

Charles & Colvard has also disclosed an exclusive strategic alliance with the International Gemological Institute (IGI) to introduce grading reports for moissanite gemstones and jewelry. Under this arrangement, expert gemologists evaluate and authenticate moissanite gemstones and issue grading reports that incorporate the standard 4Cs used in diamond grading—cut, clarity, carat, and color—along with moissanite-specific measures. The company states that these reports are intended to enhance consumer confidence, provide standardized quality measures, and help distinguish its gemstones from counterfeit or lower-quality alternatives.

Stock listing and trading status

Historically, Charles & Colvard’s common stock traded on the Nasdaq Capital Market under the symbol CTHR. Company press releases note that the stock had previously been subject to Nasdaq minimum bid price requirements and that the company implemented a reverse stock split as part of its efforts to maintain compliance. Subsequent disclosures, however, report that the company received Nasdaq notices of non-compliance related to delayed SEC filings.

On April 22, 2025, Charles & Colvard announced that it had received a staff determination letter from Nasdaq stating that Nasdaq had determined to suspend trading and delist the company’s common stock for failure to timely file certain Forms 10-Q. The company indicated that it did not intend to appeal this determination. The same announcement stated that Nasdaq was expected to file a Form 25-NSE relating to the delisting and that suspension of trading on Nasdaq would occur at the opening of business on April 25, 2025. Following the delisting, the company stated that it expected its common stock to be quoted on the OTC Experts Market, while cautioning that there could be no assurance that an over-the-counter trading market would be maintained.

Capital structure, financing, and risk disclosures

In its SEC filings and press releases, Charles & Colvard has discussed several capital structure and financing developments. The company disclosed a one-for-ten reverse stock split of its common stock, which it described as intended to help meet Nasdaq’s minimum bid price requirement. It also entered into a Convertible Secured Note Purchase Agreement with Ethara Capital LLC in 2025, under which it agreed to issue a convertible secured note for an aggregate purchase price of $2.0 million, to be funded in two tranches. The note bears interest, allows for potential conversion into common stock subject to shareholder approval, and is secured by a security interest in the company’s tangible and intangible personal property, subordinated to debt owed to Wolfspeed, Inc.

Subsequent filings report that the company received a notice of default from the holder of the note, asserting that an event of default had occurred due to non-payment at maturity and that the interest rate had increased. The company states that it is considering the validity of the asserted default, that the matter is the subject of litigation in the North Carolina Business Court, and that it has opened discussions with the holder. These disclosures highlight financing-related risks and potential implications for the company’s obligations and collateral.

In addition, the company has filed notifications of late filing on Form 12b-25, explaining delays in filing periodic reports such as its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025. In that context, Charles & Colvard notes that ongoing litigation and shareholder activism have diverted resources and management time, contributing to delays, and that it expects to disclose material weaknesses in internal control over financial reporting and factors raising substantial doubt about its ability to continue as a going concern. The company also describes cost reduction measures, including decreased headcount, executive salary reductions, supplier base reevaluation, and inventory repurposing.

Corporate governance and leadership

Charles & Colvard’s SEC filings provide insight into governance and leadership changes. An 8-K dated December 5, 2025, discusses shareholder litigation and a contested Annual Meeting of Shareholders, including a preliminary injunction from the North Carolina Business Court and the certification of election results for board nominees. Another 8-K dated January 7, 2026, reports that the board of directors terminated the company’s President and Chief Executive Officer, Don O’Connell, without "Cause" as defined in his employment agreement. On the same date, the board appointed Michael Levin, then Board Chair, to serve as Executive Chair for an initial term of three months to oversee the company’s affairs, lead the executive team, and conduct a search for a Chief Executive Officer.

Earlier disclosures also reference director appointment rights granted to Ethara Capital LLC in connection with the convertible note financing, including the right to appoint two directors to the board prior to the first closing and, upon the second closing, the right to appoint two board observers. These governance-related terms underscore the influence of key financing partners and activist shareholders on the company’s oversight structure.

Risk factors and operating challenges

Across its forward-looking statement sections and risk discussions, Charles & Colvard outlines a range of factors that could materially affect its business and financial results. These include general economic and market conditions, competition in the worldwide gemstone and jewelry industry, dependence on certain distributors and retail partners in its Traditional segment, seasonality of its business, and sensitivity to precious metal pricing. The company also notes risks related to international operations, distribution channels, vendor relationships, arbitration and litigation, social media impact on brand reputation, and environmental, social, and governance considerations.

In several disclosures, Charles & Colvard states that there is substantial doubt about its ability to continue as a going concern, linking this to execution of business plans, liquidity, and operating performance. It also acknowledges material weaknesses in internal controls over financial reporting and the potential consequences of delayed SEC filings, including delisting from a national securities exchange. These statements provide important context for investors evaluating CTHR stock and the company’s long-term prospects.

Summary

In summary, Charles & Colvard, Ltd. is a North Carolina-based fine jewelry company focused on lab-grown moissanite and lab-grown diamonds, marketed under brands such as Forever One™ and Caydia®. It emphasizes Made, not Mined™ gemstones, recycled precious metals, and a conscious approach to bridal and fashion jewelry. The company engages both consumers and trade partners through online platforms, wholesale channels, and social commerce partnerships, while also navigating financing arrangements, governance changes, and regulatory filing challenges that are documented in its press releases and SEC filings.