Workstream Inc. (NDAQ:WSTM) shares moved up $0.09, or 8.18%, to $1.19 today after CEO Michael Mullarkey disclosed a 25,000 share purchase at $1.12 per share in a
form 4 filing with the SEC, bringing his overall stake to over 4.3 million shares. The web-based software provider announced earlier this month that it would remain listed on the Nasdaq after the stock dropped below $1 for over 30 consecutive days - which violates Nasdaq listing requirements of a $1 or greater share price. Currently the company is trading below enterprise value and is slowly making its way back to profitability; however, the company does have $14.11m in debt with only $5.53m in cash. The CEO's 25k share purchase illustrates confidence in the company, but whether or not a successful turnaround can be orchestrated remains to be seen. Regardless, this is a great stock to
keep on the radar over the next year.
Workstream Inc.'s s principal activity is to provide a range of employment services and
web-based software services for Human Capital Management. The Group
operates through two segments: Enterprise Workforce Services and Career
Transition Services. Enterprise Workforce Services include recruiting
systems, recruitment services, applicant sourcing and exchange and
employee portal, recruitment research, online exchange, and employee
management and retention services. Career Transition Services include
career marketing and outplacement services. The operations are
conducted mainly in Canada and the United States.
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