India, June 18 -- Shares of Reliance Global Group, Inc. (RELI) gained over 40% on Wednesday morning after the company signs letter of intent to sell Fortman Insurance for $5 million in cash.
RELI is currently trading at $3.0400, up $0.8700 or 40.0922%, on a volume of 33 million shares, above average volume of 0.4 million, on the Nasdaq. The stock opened its trading at $3.1300 after closing Tuesday at $2.1700. The stock has traded between $0.9700 and $11.8660 in the past 52-week period.
Reliance Global Group announced it has signed a non-binding Letter of Intent to sell Fortman Insurance Agency, a wholly owned subsidiary for $5 million in cash. The contemplated sale price represents a meaningful premium over the original acquisition cost, ...