BGSF (NYSE:BGSF) stock is sliding lower on Friday after the strategic workforce solutions company announced a rebranding plan.
According to the company, all of its businesses will rebrand to operate under the BGSF banner. The company says that this will still see it maintain its two distinct operating divisions, Property Management and Professional.
BGSF points out that this rebranding will see major changes in the company. That includes the consolidating of names, offices and the company’s “voice in the marketplace.” The company says that these moves will help it with growth as part of a recent strategic initiative.
BGSF says these charges will start to go into effect over the next quarter. It believes this change will benefit customers, as they won’t have to deal with a company operating under multiple names.
How This Affects BGSF Stock
It looks like investors were hoping for a little more than just a rebranding from BGSF. Following the announcement, shares are down 3% in pre-market trading this morning. However, that could just be the stock being volatile. BGSF stock has a low average trading volume, which means it doesn’t take much movement to affect shares.
No matter the case, investors seeking out more of the latest stock market news will want to stick around!
We’ve got all of the hottest stock market news that traders will want to know about for Friday! That includes what has shares of Bird Global (NYSE:BRDS) and Dermata Therapeutics (NASDAQ:DRMA) stock up, as well as the biggest pre-market stock movers for Friday morning. You can catch up on all of that news at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.