Investors may not be familiar with Labor SMART (OTCMKTS:LTNC), but shares are skyrocketing on Monday. In fact, LTNC stock is up more than 120% on heavy trading volume. So what do you need to know about the company? And what is responsible for the astronomical rise?
To start, Labor SMART primarily operates in the world of staffing solutions. In fact, it says its goal is to provide dependable, temporary staffing solutions to small businesses and even Fortune 500 companies. However, the company has been shaking things up in recent weeks, and news of an upcoming acquisition has investors excited.
With that in mind, here is what you need to know about LTNC stock now:
- Labor SMART has been around since 2011, and recently moved its headquarters from Nevada to Wyoming due to cost concerns.
- One thing investors should note is that the company does not report information in the most traditional way.
- In fact, it filed Form 15-12G with the U.S. Securities and Exchange Commission in March 2016. This form allows companies to de-register securities or to terminate reporting requirements.
- As a result of this filing, Labor SMART says it now communicates all important information through Twitter (NYSE:TWTR), its designated platform.
- There, it users three different accounts, including that of CEO Ryan Schadel.
- In recent weeks, social media posts on those Twitter accounts have started to garner more attention for LTNC stock.
- Shares are up nearly 3,900% since the beginning of January.
- This comes after the company announced that the Kansas City Chiefs were a client, ahead of the Super Bowl.
- Labor SMART also recently acquired Restore Franchise Group, an operator of pizza franchises.
- As a result of this deal, Labor SMART operates one franchise unit in Cummings, Georgia.
- Schadel has also shared company plans to expand the RFG acquisition.
LTNC Stock and Recent Company Tweets
With Schadel taking Twitter by storm, there is quite a bit of recent information for investors to digest. A new press release today outlines those updates, as well as clarifying the reporting requirements. Labor SMART also acknowledges that it has identified relevant Twitter accounts.
Part of this press release outlines company intent to move forward with another acquisition. While Schadel and Labor SMART have not disclosed the target business, they have said that it is in the beverage industry. They also shared that Alex Guerrero was part of the conversations. For those unfamiliar, Guerrero is a practitioner of alternative medicine that has worked with the New England Patriots. He is also the co-founder of wellness company TB12, along with Tom Brady. However, Labor SMART has confirmed that Brady and TB12 are not part of the acquisition.
The Bottom Line
So what should you do here? Schadel said he will livestream more information about the acquisition via Twitter later this week. This could be a good opportunity for investors to learn more. However, it is very important to be cautious with this company. Trading over the counter and at a small market capitalization, there is always great risk. With shares rallying so far in just a few weeks, be sure to do your own research.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.
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February 23, 2021 at 04:16AM
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