24/7 Market News Snapshot 23 December, 2024 – Reliance Global Group, Inc. Common Stock (NASDAQ:RELI)

December 23, 2024

DENVER, Colo., 23 December, 2024 (247marketnews.com) – (NASDAQ:RELI) are discussed in this article.
Reliance Global Group, Inc. is witnessing a remarkable bullish surge, with its stock price soaring to $3.902 in pre-market trading, representing an impressive 225.17% increase from the previous close of $1.200. This surge is accompanied by a trading volume of 34.34 million shares, reflecting strong investor interest and speculation regarding the company’s recent advancements and market strategies. Such upward movement may signal a pivotal period for Reliance Global Group, prompting market participants to take notice of potential investment opportunities.

The company, under the leadership of Chairman and CEO Ezra Beyman, is navigating a transformative year marked by strategic initiatives aimed at operational efficiency. The implementation of the OneFirm approach has significantly streamlined operations, leading to substantial revenue growth and a reduction in expenses, as highlighted by improved EBITDA figures reported in the third quarter of 2024. Beyman stated, “The impact of our integrated strategy is clear, positioning Reliance for sustainable growth and long-term value creation.”

On the horizon, Reliance is preparing for the completion of its acquisition of Spetner, with final approvals anticipated in early 2025. This acquisition is expected to nearly double the company’s annual revenue to about $28 million, further enhancing its growth trajectory. Additionally, acquiring Spetner’s successful BenManage voluntary benefit insurance segment will expand Reliance’s coverage offerings.

Looking forward, Reliance continues to redefine the insurance landscape through its innovative InsurTech platform, RELI Exchange, which equips independent agencies with essential tools for success, while its consumer-focused service, 5minuteinsure.com, ensures rapid access to insurance quotes. With a robust strategy and increasing momentum, Reliance Global Group stands poised to advance its market presence and operational capabilities well into 2025 and beyond.

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