Last week, the staffing company Labor Smart Inc (OTC: LTNC) had seen its stock hit significant lows amidst a selloff but it seems that it is now on the path to a strong recovery.
Since hitting those lows, the Labor SMART stock has managed to rebound strongly and gone up by as high as 30%. In the middle of such a recovery, it is likely that more and more investors are now going to take a closer look at it.
Back on March 1, the company revealed that it is diversified its business and did so with the acquisition of Takeover Industries Inc. Labor SMART is involved in providing blue-collar staffing solutions to various companies in the Southeastern United States. The takeover, on the other hand, is an early-stage beverage company and is going to operate as a fully owned subsidiary of Labor SMART. Labor SMART issued as many as 6.8 billion common shares in order to complete the acquisition. The stock is restricted for 12 months.
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