This was past week was not a particularly great time for the Labor SMART Inc (OTCMKTS:LTNC) stock as it ended the week with a decline of as much as 17%.
However, at the same time, it is also imperative for investors to remember that there was no news about the stock that might have led to such a decline. In light of such a drop, it might be a good time to look into a development regarding Labor SMART from earlier on this month. At the time, the company sent out a tweet indicating that it would be open to offers for its registered trademark ‘Labor Smart’.
The company also added that any future sale of the trademark is not going to have an effect on the company’s ticker symbol and it is going to continue to trade as LTNC. The Chief Executive Officer of the company, Joe Pavlik, spoke about the company’s decision as well.
He stated that after a review from the executive team it was decided that the trademark no longer represents its goals and objectives. At this point in time, Labor SMART is fully focussed on its subsidiary company Takeover Industries, which is currently making headway in the beverage industry.
Market Reaction:
On Friday, LTNC stock fell 6.50% to $0.0128 with more than 94.61 million shares, compared to its average volume of 149.89 million shares. The stock has moved within a range of $0.0118 – 0.0135 after opening the trade at $0.0135. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0875.
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