Why is BGSF (BGSF) stock down today?
Source: GaudiLab / Shutterstock
BGSF (NYSE:BGSF) the stock fell on Friday after the strategic workforce solutions company announced a rebranding plan.
According to the company, all of its businesses will be rebranded to operate under the BGSF banner. The company says this will see it still maintain its two separate operating divisions, Property Management and Professional.
BGSF points out that this rebranding will lead to major changes in the company. This includes consolidating names, offices and the “corporate voice in the market”. The company says these moves will help it grow as part of a recent strategic initiative.
BGSF says these fees will begin to take effect in the next quarter. She believes this change will benefit customers, as they won’t have to deal with a company operating under multiple names.
How it affects BGSF stock
It seems investors were hoping for a little more than a simple rebranding of BGSF. Following the announcement, shares are down 3% in premarket trading this morning. However, it 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 the stock.
Either way, investors looking for the latest stock market news will want to stick around!
We have all the hottest stock market news traders will want to know for Friday! This includes what has shares of world bird (NYSE:BRDS) And Therapeutic dermatology (NASDAQ:ARMD) stock up, along with the biggest pre-market stock moves for Friday morning. You can follow all this news on the following links!
More Friday stock market news
As of the date of publication, William White has not held (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.
InvestorPlace
