This morning most investors are going to be looking into those stocks that may have made strong moves on Friday, and one to watch could be the Labor Smart Inc. (PINK:LTNC) stock. The stock came into sharp focus on the day following a key announcement and ended the day with gains of 7%.
New Acquisition
On December 27 the company came into focus after it announced that it had acquired Go Fast Sports and Beverage Company from Illumination Brands, an entity registered as an Alberta Corporation. In the news release, the company stated that Go Fast Sports and Beverage was a well-known independent and iconic lifestyle brand focused on high-end energy beverages. It also had a strong focus on adventure and extreme sports. It was also noted that the acquisition marked a major milestone for Labor Smart in its growth plan and would help the company in expanding its presence into the high-energy beverage space.
Key Details
The company completed the transaction by providing Illumination Brands with 400,000,000 shares in Labor Smart. Following the acquisition, Go Fast will be run as a separate subsidiary unit of the company, and Samantha Brown would continue to serve as the president. It remains to be seen if the Labor Smart stock sees any action this week.
Brad Wyatt, Co-CEO of LTNC, shared his excitement about the acquisition:
“Go Fast Energy represents an exciting addition to Labor Smart’s growing portfolio of innovative brands. Their dedication to creating high-quality, performance-driven products perfectly aligns with our vision of delivering exceptional experiences to consumers. Together, we’ll reignite global enthusiasm for Go Fast Energy and build on its powerful connection with adventurers and athletes worldwide.”
Technicals
| +/- EMA(20) | 0.0016 (-12.50%) |
| +/- SMA(50) | 0.0019 (-26.32%) |
| +/- SMA(200) | 0.0033 (-57.58%) |
| 5-Day Perf. | -6.67% |
| 1-Month Perf. | -30% |
| 3-Month Perf. | -50% |
| 6-Month Perf. | -62.16% |
| YTD Perf. | +250% |
| 1-Year Perf. | +250% |
| RSI(14) | 37.84 |
| ATR(14) | – |
| ADX(14) | 57.62 |
