Recruiter.com Group (RCRT) Stock Sees Buying Interest: Time To Get In?

The Recruiter.com Group Inc (NASDAQ:RCRT) emerged as one of the notable gainers last week as the stock clocked gains of as much as 9%. The gains in the stock were possibly triggered by the closure of its public offering this past Friday.

The company managed to raise as much as $12 million through the public offering and it seems that the news has come as a major source of optimism for investors. The company released a statement regarding the closure of the offering as well. In the statement, Recruiter.com noted that the money is going to go towards the marketing and sales initiatives related to its recruiting software products.

In addition to that, the proceeds are also going to be deployed towards working capital needs, expenses and strategic acquisitions. In this regard, it is necessary to note that the stock only started trading on NASDAQ on June 30, 2021 and offered as many as 2.4 million units to the public for $5 each. The units are made up on one share of the company’s common stock and one share warrant. The warrant entitles the holder to pick up one common stock in Recruiter.com for $5.50.

Market Reaction:

On Friday, RCRT stock moved up 1.44% at $4.92 with more than 363k shares, compared to its average volume of 35k shares. The stock has moved within a range of $4.8379 – 5.1000 after opening the trade at $4.85. Over the past 52-week, the stock has been trading within a range of $2.5000 – 11.8250.