SGRP - I found today's press release interesting. The last line is a pretty bold statement:
SPAR Group Sells Interest in China Joint Venture
GlobeNewswire - Feb 27 10:30 EDT
Company continues to simplify operations and structure
AUBURN HILLS, Mich., Feb. 27, 2024 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (NASDAQ: SGRP) (“SPAR”, “SPAR Group” or the “Company”), a leading global provider of merchandising, marketing and distribution services, reports the sale of its ownership interest in SPAR China, the joint venture based in Shanghai. Terms were not released.
“As we continue to evaluate strategic alternatives for the business, we are simplifying our operating and financial structure. At the same time, we are focused on building our core business that has experienced strong demand and growth over the last three years,” said Mike Matacunas, President and CEO, SPAR Group.
“Our core-owned U.S. business has experienced 50%+ growth and our Canada business has grown by more than 90% in this time period. We are pleased with these results and will build upon this momentum. This is a good time to invest in SPAR Group.”
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
