What's Going On With Reliance Global Stock?
Portfolio Pulse from Erica Kollmann
Reliance Global Group, Inc. (NASDAQ:RELI) shares surged 245% after the company updated on its pending acquisition of Spetner Associates, projecting to double annual revenues to $28 million. The acquisition's impact is surpassing expectations, with Spetner’s BenManage segment now covering 85,000 employees. Heavy trading volume was noted with over 46 million shares traded.
June 18, 2024 | 3:11 pm
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POSITIVE IMPACT
Reliance Global Group shares surged 245% following an update on the pending acquisition of Spetner Associates, which is expected to double annual revenues to $28 million. The acquisition's impact is surpassing initial expectations, with significant growth in Spetner’s BenManage segment.
The significant increase in share price and heavy trading volume indicate strong investor confidence in the acquisition's potential to boost revenues. The expansion of Spetner’s BenManage segment further supports positive market sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100