The company expects 20% year-over-year growth in its revenue and gross profit in the second quarter. However, the stock has retreated 15.1% over the past year and 4.8% over the past three months. STAF is currently trading 75.1% below its 52-week high of $20.04, which it hit on October 15, 2020.
The company executed a reverse stock split on July 1, at a ratio of 1 post-split share for every 6 pre-split shares to regain compliance with the NASDAQ Capital Market’s $1.00 per share minimum bid continued listing requirement. While the company expects positive net income for the quarter ending July 3, 2021, it incurred losses until the first quarter.
