Low Float Nasdaq Profile (RELI) Is A Past Champ Requiring Your Immediate Attention This Morning
There's not a second to waste this morning as the opening bell just rang and the markets are open...
Today, I want to bring a past champ back to your attention as several potential catalysts could be signaling a possible vertical move in the short term.
Previously, I alerted you to this Nasdaq profile on Sunday, March 14th after it had closed on the prior Friday at $4.39.
That Monday, it rocketed to a high of $5.46 before reaching a high of $5.68 a day later.
From $4.39 to $5.68, this profile made a dollar+ move and ran almost 30% short term.
Now that I've got your attention, you're going to need to get this idea back on your radar again ASAP.
But first, let me ask you a question. What do you know about insurance agencies?
Insurance ("Ins") agencies act as intermediaries between Ins carriers and consumers.
Unlike carriers, agencies do not bear Ins risk.
The U.S. Ins broker and agency industry generated revenue of $164Bn in 2018.
The market has grown steadily over the past 5 years due to macroeconomic growth, beneficial legislation, and positive trends within the sector.
There is one company looking to make a name for themselves in this market and requires you immediate attention for Tuesday, April 20th:
Reliance Global Group, Inc. (RELI)
Reliance Global Group, Inc. is moving forward with its goal to operate in the Ins sector through its Ins brokerage agencies and online Ins businesses, and potentially other sectors. RELI's focus continues to be to grow the Company by pursuing an aggressive growth strategy of acquisition opp's, including Ins agencies. Ins agencies, as opposed to Ins carriers, bear no Ins risk.
And, in past couple years Reliance Global Group, Inc. has made numerous acquisitions that has them poised to grab Wall Street's attention.
Major RELI Acquisitions Since 2018
- In October 2018, announced first two acquisitions: Employee Benefits Solutions and U.S. Benefits Alliance
- Michigan-based agencies specializing in the sale of health Ins products in the wholesale and retail industry
- In December 2018, acquired Commercial Coverage Solutions, LLC
- Commercial property and casualty Ins company specializing in commercial trucking and transportation Ins
- In September 2019, transferred ownership of two agencies from Reliance Global Holdings, LLC, a private company affiliated with Reliance Global Group
- Southwestern Montana Insurance, a group health Ins agency providing personal and commercial lines of Ins
- Fortman Insurance Agency, LLC, an agency providing multiple lines of Ins in the property/casualty and life/health Ins sectors
- In September 2019, acquired Altruis Benefit Consulting
- Serves customers throughout the entire State of Michigan, specializing in providing individual and group health Ins
- In September 2020, acquired the assets of UIS Agency, LLC (UIS), a premier regional Ins agency serving the commercial transportation industry
5minuteinsure(dot)com - Driving Online Traffic to RELI's Agencies and Affiliate Agents
5minuteinsure(dot)com will be utilized in conjunction with current and planned agency acquisitions, as well as affiliated agencies.
Today, there is growing competition among Ins agents to attract referrals from a limited pool of realtors, mortgage bankers, mortgage brokers, and auto dealers throughout the US.
5minuteInsure(dot)com is a new and proprietary tool being developed by Reliance Global Group to tap into the growing number of online shoppers to drive traffic to our agents and affiliates.
5minuteInsure(dot)com utilizes artificial intelligence and data mining, to provide competitive quotes within 5 minutes, with minimal data input.
No. 1 RELI Potential Catalyst - Adding 2 Leading National Ins Carriers
Reliance Global Group Adds Two Leading National Ins Carriers to Its 5MinuteInsure(dot)com Platform
LAKEWOOD, NJ, March 26, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional Ins agency, today announced its subsidiary, Fortman Insurance Services LLC, has been approved to offer Travelers and Nationwide insurance products nationally through the Company’s 5MinuteInsure(dot)com platform. The Company plans to initially focus on home and auto insurance, with the goal to add additional coverages.
Read the full article here.
No. 2 RELI Potential Catalyst - Business Update Including 63% Revenue Increase News
Reliance Global Group Reports 63% Increase in Revenue for 2020 and Provides Year-End Business Update
5MinuteInsure(dot)com, through its Reliance Insurtech division, now licensed to sell home and auto insurance in 43 states
LAKEWOOD, N.J., March 24, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the year-ended December 31, 2020.
Ezra Beyman, CEO of Reliance Global Group, commented, “2020 was a transformative year for the Company. First, we continued our acquisition strategy with the purchase and successful integration of UIS Agency, LLC, a regional insurance agency serving the commercial transportation industry. We now operate through seven wholly owned agencies with plans to continue our M&A strategy. Specifically, we are targeting growing and profitable businesses that we can buy at attractive multiples and with the ability to leverage both technology and economies of scale to gain significant efficiencies.”
“In early 2020, we made a strategic in-vest-ment in Nsure(dot)com and, more recently, we launched our own platform, 5minuteinsure(dot)com. The goal of 5minuteinsure.com is to tap into the growing number of online shoppers. Utilizing artificial intelligence, in many cases we can provide competitive insurance quotes online within five minutes, with minimal data input by the customer. 5minuteinsure(dot)com combines the best of a traditional insurance agency, including the option for direct agent interaction with the ability to bind a policy either online or offline. I am especially pleased to report that 5MinuteInsure(dot)com, through our affiliated Reliance Insurtech division, has received access to sales capabilities through licenses granted to Reliance Insurtech to sell home and auto insurance in 43 states, with near-term plans to add additional states and carriers, as well as expand into additional types of insurance. We believe this state-of-the-art Insurtech platform has the potential to truly disrupt the industry.”
“We continue to enhance our infrastructure and expand our internal resources. Heading into 2021, we are accelerating our sales and marketing initiatives targeting large enterprises and employee organizations. We have also hired senior insurance industry executives to assist in both the rollout of our online offering, as well as accelerate our acquisition strategy. In addition, we significantly enhanced our balance sheet through the recent public offering for gross proceeds of $12.4Mn concurrent with our listing on the Nasdaq. The combination of these events provides us a much stronger platform to execute our organic growth and acquisition strategies.”
“In 2020, revenue increased 63%, reflecting our continued growth and execution of our business model. Importantly, we incurred significant company expenses in 2020 related to preparations for our Nasdaq listing, while at the same time, we invested heavily in our infrastructure and operations to support our continued expansion. As a result, we believe we have built a highly scalable operation with the potential for high recurring revenue and operating margins.”
Read the full article here.
No. 3 RELI Potential Catalyst - Received Licenses To Sell Home And Auto Insurance In 40 States
Reliance Global Group’s 5MinuteInsure(dot)com Platform Enhanced with Licenses to Sell Home and Auto Insurance Policies in 40 States Through its Reliance Insurtech Division
LAKEWOOD, NJ, March 15, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines advanced technologies with the personalized experience of a traditional insurance agency, announces that its affiliated Reliance Insurtech division has received licenses to sell home and auto insurance in 40 states, with plans to expand to additional types of insurance. In order to utilize these licenses and achieve efficacy, its 5MinuteInsure(dot)com platform is in the process of being configured to offer insurance in the respective states, while the Company is onboarding carriers in these states.
5MinuteInsure(dot)com is designed to leverage the Company’s proprietary and novel technologies, allowing it to tap into the growing number of online shoppers and, in turn, driving demand to its affiliated agents. 5MinuteInsure(dot)com utilizes artificial intelligence to provide competitive insurance quotes, in many cases, within five minutes, with minimal data input by the customer via their smartphone, tablet or computer.
Ezra Beyman, CEO of Reliance Global Group, commented, “We have achieved a significant milestone in being licensed in 40 states, with more states to follow. Now, we are in the process of aggressively onboarding known insurance carriers, both regional and nationwide, in order to realize the benefits of this novel platform. We believe that as this process unfolds, our online offering will be highly attractive to the growing number of consumers who have now become accustomed to conducting almost all of their business online. We believe we are unique in our ability to combine the traditional insurance agency model with tools adapted for the modern digital age. We can now provide customers the ability to digitally compare quotes within minutes and request to bind their policy online. For clients who still prefer to interact with a person directly, there will be concierge agents available through live chat or phone to assist in reviewing and binding coverage as well as servicing policies. We look forward to providing further updates as key developments unfold.”
Read the full article here.
No. 4 RELI Potential Catalyst - Expanding Sales Initiatives
Reliance Global Group Expands Sales Initiatives Targeting Large Enterprises and Employee Organizations
SWMIC subsidiary chosen as broker of choice for three additional unions
LAKEWOOD, N.J., March 03, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), a company engaged in the acquisition and management of Ins agencies in the United States, announces it is expanding its sales initiatives targeting large enterprises and employee organizations. As a result, Reliance Global Group’s wholly owned subsidiary, Southwestern Montana Insurance Center, LLC (SWMIC), was recently named broker of choice for an additional three unions.
Ezra Beyman, CEO of Reliance Global Group, stated, "In addition to launching 5minuteinsure(dot)com, our direct-to-consumer offering, we are also accelerating our sales and marketing initiatives targeting large enterprises and employee organizations. I am pleased to report, SWMIC was recently named broker of choice for 3 premier regional unions. This follows SWMIC’s selection as Broker of Choice for 18 public school districts. We are pursuing this same strategy in parallel with our other agencies."
Read the full article here.
No. 5 RELI Potential Catalyst - Low Float
According to Yahoo Finance, RELI has a small float.
The website reports this profile to have 5.29Mn shares in its float.
Why is that important? It's important on one crucial level. Volatility.
With so few shares available for trading, potential driver indicators can send shares heading vertical in the short-term.
No. 6 RELI Potential Catalyst - Company Announces Nasdaq Listing
Reliance Global Group, Inc. Announces Nasdaq Listing and Pricing of $10.8Mn Public Offering
LAKEWOOD, NJ, Feb. 08, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Reliance Global Group, Inc. (NASDAQ: RELI) ("Reliance" or "Company"), a company engaged in the acquisition and management of Ins agencies in the United States, today announced the pricing of an underwritten public offering of 1.8Mn shares of common sto-ck and accompanying Series A warrants at a public offering price of $6.00 per share and accompanying Series A warrant for aggregate gross proceeds of $10.8Mn prior to deducting underwriting discounts, commissions, and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 270K shares and accompanying Series A warrants at the public offering price less the underwriting discounts and commissions. The offering is expected to close on February 11, 2021, subject to satisfaction of customary closing conditions.
The Company has received approval to list its common sto-ck and Series A warrants on the Nasdaq Capital Market under the symbols “RELI” and “RELIW", respectively, with trading expected to begin on February 9, 2021.
Read the full article here.
Recap: Top 6 Potential (RELI) Breakout Catalysts
No. 1 - Adding 2 Leading National Insurance Carriers
No. 2 - Business Update Including 63% Revenue Increase News
No. 3 - Received Licenses To Sell Home And Auto Insurance In 40 States
No. 4 - Expanding Sales Initiatives
No. 5 - Low Float
No. 6 - Company Announces Nasdaq Listing
Coverage is officially initiated on RELI. Also, when you have a second do this: