Labor Smart Inc. (OTC:LTNC) Stock In Focus After Latest News
Following a significant announcement from the company yesterday, Labor Smart Inc. (OTC:LTNC) came into focus among investors, and it is likely to be watched closely today.
Labor Smart, Inc. Taps Into $250 Billion Snack Market With Investment in Disruptive Snack & Beverage Company
The company announced that it had picked up a 25% stake in a newly established snack and beverage firm. As per the terms of the agreement, Labor Smart’s stake could rise to 35% eventually. However, the company noted that the specific details about the acquisition target would be revealed in November.
The snack and beverage company would be prepared for a public announcement by then. The details of the transaction would be revealed in the third fiscal quarter filings from the company. Owing to the material nature of the deal, the company decided to make an announcement as per the provisions of the OTC Markets.
Potential Effect
The acquisition could be a significant one for Labor Smart since it would expand its product portfolio significantly and boost its presence in the consumer goods space. The move was also seen to be in alignment with the existing Lock’Din range of products, and the advanced beverages and snacks from the new acquisition would complement it. Customers would be offered a wider range of higher-quality snacks and diverse flavors of beverages as a consequence.
Key Quote
“We’re thrilled to announce this strategic investment as part of our ongoing efforts to expand and diversify our product offerings,” said Tom Zarro, CEO of Labor Smart, Inc. “This acquisition not only aligns perfectly with our current product lines but also reflects our broader mission to develop high-quality and delicious goods that cater to evolving consumer preferences. We believe these upcoming products have the potential to become game-changers in our space, adding substantial value to our portfolio and driving revenue growth.”
Traders Notes
| +/- EMA(20) | 0.0029 (-3.45%) |
| +/- SMA(50) | 0.0025 (+12.00%) |
| +/- SMA(200) | 0.0032 (-12.50%) |
| 5-Day Perf. | – |
| 1-Month Perf. | +3.7% |
| 3-Month Perf. | -36.36% |
| 6-Month Perf. | -72% |
| YTD Perf. | +600% |
| 1-Year Perf. | +600% |
| RSI(14) | 49.56 |
| ATR(14) | – |
| ADX(14) | 21.08 |