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Star Equity Holdings (NASDAQ:STRR) Gained 9%: Here is Why

Pete Matthews , , , ,

Star Equity Holdings (NASDAQ:STRR) gained 9% after the company announced that its executive team would present at this year’s Access to Giving Virtual Conference scheduled on Thursday, July 15, 2021. Equally, the company’s management team will be engaging investors throughout the day.

On June 2, 2021, the company’s board of directors adopted a Rights Agreement, with the rights agent being American Stock Transfer & Trust Company LLC. The agreement seeks to preserve Star Equity Holdings’ value of the considerable US net operational loss carryforwards and tax benefits.

According to the terms of the Rights Agreement, it will be effective immediately, but the company must get shareholder approval for the agreement during this year’s annual shareholders meeting. In addition, the company has three units focusing on healthcare, construction, and investments. So in the coming months, STRR is a stock worth keeping an eye on.

Market Reaction:

On Tuesday, STRR stock gained 9% at $3.52 with more than 2.77 million shares, compared to its average volume of 305k shares. The stock had moved within a range of $3.2500 – 4.2399 after opening the trade at $3.27. Over the past 52-week, the stock has been trading within a range of $2.3100 – 5.4000.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.