FalconStor Software, Inc. (NASDAQ: FALC) is breaking the law – well, the law of gravity that is. The company announced key management changes last week that excited investors, sending the stock on a run of around 77% growth. However, as we enter this week, that run is far from ending. In fact, early this morning, we received another alert from our friends at Trade Ideas, informing us that the stock seems to have grown yet another pair of wings. At the moment (10:30), FALC is trading at $0.37 per share after a gain of $0.13 per share (51.13%) thus far today.
FALC Gains On Leadership Changes
As mentioned above, FalconStor Software is having yet another incredible day in the market today, following up on last week’s gains. The gains are ultimately the result of key management changes that were announced late last week. In particular, the company appointed Todd Brooks as the CEO and Patrick McClain as the CFO. Both appointments were announced as effective immediately. In a statement, Todd Brooks, the new CEO at FALC, had the following to offer:
“FalconStor’s long-term position as a leader in data storage management software and extensive enterprise customer base are tremendous assets for the Company… to maximize these assets, the Company’s commercial and operational fundamentals must be refocused. I am excited to lead these efforts and position FalconStor for long-term success delivering differentiated value to our customers and shareholders.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on FALC. In particular, we’re interested in following the changes made by the new leadership and excited to see the results of these changes. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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