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      Market Corrections: Group Inc. (RCRT) stock Plunges in the After Hours - Stocks Telegraph

      By Gule Rukhsar

      Published on

      December 10, 2021

      6:55 AM UTC

      Market Corrections: Group Inc. (RCRT) stock Plunges in the After Hours - Stocks Telegraph Group Inc. (RCRT) stock fell down by 4.53% in the after-hours, following its gain of 11.44% in regular trading on Thursday. Hence, the gain led the stock to enter market corrections in the after hours.

      In regular trading, the stock fluctuated between $3.68 and $4.83 at a hefty volume of 6.45 million shares. After closing the session at $4.19, the stock entered market corrections in the after hours. Hence, RCRT fell down to $4.00 at an after-hours’ volume of 1.12 million shares.

      What is Happening with RCRT?

      The RCRCT stock has been bullish since the company announced its partnership with Deel on December 07. After its opening at $3.17 on December 07, the stock has gained to reach a high of $4.83 in the last trading session. The stock was able to reach such a high after more than three months, hence making it a big gain. Consequently, the stock has gained over 40.1% in the past five days, while its one-month gain stands at 65.61%.

      Gaining for over three days, RCRT stock finally entered market corrections in the after-hours on Thursday. So far, the stock has lost a small $0.18 to profit booking. The opening of the premarket session on Friday will clear the situation on how much the stock would be losing further.

      Partnership with Deel

      On Tuesday, the recruiting solutions provider, Group Inc. (RCRT) announced its partnership with Deel. Deel operates a platform for streamlining international teams’ compliance and payments throughout the world. Recently, the Deel platform reached a valuation of $5.5 billion, becoming the highest valued company in its industry. Moreover, Deel offers automated invoicing, one-click payments, as well as document collection. Currently, the company operates in over 120 currencies and supports over 150 countries.

      As per the terms of the partnership, RCRT will offer a special discount (5% off) to Deel clients. In return, RCRT will leverage the Deel platform for its on-demand recruiters. Furthermore, Deel will become part of RCRT’s marketplace of over 850,000 professionals.

      RCRT’s Financial Highlights

      On November 15, the company announced its third-quarter financial and operational results for 2021. As per the third quarter of 2021, the revenue was $6.3 million, showing a humungous increase of 314% year-over-year.

      Further, the third quarter of 2021, reported gross margins of 36.8%, against that of 32.8% in the previous quarter of 2021.

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