The stock price of Reliance Global jumped nearly 50% in Monday mid-market trading, following the announcement that the company has elected a new Vice President of Acquisitions – Jonathan Forman. Clearly, investors are happy with the new decision, with buyers taking hold immediately after the news release.
Jonathan Fortman has been promoted from Chief Operating Officer of a Global Group subsidiary Forman Insurance Services to his new role in Acquisitions for Reliance – reporting directly to CEO Ezra Beyman. Seeing his responsibilities exponentially grow during his years with Reliance, and investors clearly have faith, bolstered by his knowledge and growth within the company.
Ezra Beyman, Chairman and CEO of Reliance Global, stated:
“We are delighted to announce the promotion of Jonathan to Vice President of Acquisitions. Jonathan brings extensive industry relationships and a deep understanding of the sector. Since he joined the team, Jonathan has been instrumental in helping evaluate a variety of acquisition targets and we look forward to fully leveraging the breadth of his experience.”
With growth initiatives on the horizon, only time will tell how Reliance’s new VP of acquisitions will act. With clear support internally and externally, Jonathan Forman is sitting in good stead for his new role. In terms of RELI stock, price has been trading sideways in a tight range for some time; today’s price hike relinquishing tightening investor angst. Price is trading closely to the $3 level, with a daily gain of 43%
