Not too long ago, the Labor SMART (OTCMKTS:LTNC) stock had suffered from a selloff but on Thursday it managed to make a recover and soared by as much as 22%.
There was no news about the company yesterday but the considering the magnitude of the gains; it might be a good move for investors to take a closer look at a recent development. Earlier on this month, the company sent out a tweet in which it announced that it was looking for offers for its registered trademark ‘Labor Smart’. That was a major announcement from the company but at the same time it was also pointed out that the decision is not going to change its ticker symbol LTNC.
The Chief Executive Officer of the company Joe Pavlik spoke about the issue and explained why Labor SMART decided on this course of action. He stated that the team of executives at the company had performed a review and following that it was decided that the trademark no longer reflects the goals and aspirations of Labor SMART. He went on to state that at this point in time, the company is fully focussed on its subsidiary company Takeover Industries and its work on the NXT LVL brand of beverages.
Market Reaction:
On Thursday, LTNC stock soared 22% to $0.0137 with more than 262.82 million shares, compared to its average volume of 155.95 million shares. The stock has moved within a range of $0.0086 – 0.0139 after opening the trade at $0.0115. Over the past 52-week, the stock has been trading within a range of $0.0000 – 0.0875.
 Stock Comes Back Strongly: A Bullish Signal?){kind=link}