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Latest Simply Stock News | OTC:SIMPQ | Benzinga

Simply Inc through its subsidiary, operates a chain of retail electronics stores and is an authorized reseller of Apple products and other high-profile consumer electronic brands. It operates business in a single segment in the United States through its Simply Mac retail stores.

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Simply Inc (OTC: SIMPQ) shares have been extremely volatile over the last few days, trading as low as 1 cent and as high as $3.85 per share.

What&#39;s Going On With Simply (SIMPQ) Stock?

Simply Inc

Simply

Simply Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SIMPQ#OTC">SIMPQ</a>) shares have been extremely volatile over the last&nbsp;few&nbsp;days, trading as low as 1 cent and as high as $3.85 per share.

Simply is the parent company of Simply Mac, the largest Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Premiere Partner in the U.S. Simply Mac is&nbsp;an authorized reseller&nbsp;of Apple products, as well as&nbsp;a provider of&nbsp;warranty repair services.&nbsp;

The Apple reseller filed for&nbsp;bankruptcy last month.&nbsp;According to multiple&nbsp;<a href="https://microcapdaily.com/simply-inc-otcmkts-simpq-hits-the-otc-with-a-bang-q-stock-madness/">reports</a>,&nbsp;Simply announced that it commenced bankruptcy proceedings on June 14. Concurrent with the bankruptcy filing, the company also terminated its CEO and CFO.

A week before, in preparation for bankruptcy, Simply sent a letter&nbsp;to employees stating that it&nbsp;would be&nbsp;shutting down its operations and terminating all employees, effective immediately, according to a&nbsp;<a href="https://www.macrumors.com/2022/06/09/apple-reseller-simply-mac-apparently-shuts-down/">MacRumors report</a>.&nbsp;The letter also reportedly noted that Simply would be unable to pay employees tomorrow or in the future.

Simply acquired Simply Mac from GameStop Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) in 2019. The company attributed its downfall to the COVID-19 pandemic which forced the company&nbsp;to cut half of its workforce and close several&nbsp;stores.&nbsp;

SIMPQ Price Action: Simply was up 3,061.1% at 47 cents at press time, according to data from&nbsp;<a href="https://benzinga.grsm.io/gxjhpowx7zks">Benzinga Pro</a>.

Photo:&nbsp;<a href="https://www.flickr.com/photos/naturalgarden/" id="yui_3_16_0_1_1657284039466_55661" title="Go to tomoki takahashi's photostream">tomoki takahashi</a>&nbsp;from Flickr.

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Latest Simply Stock News | OTC:SIMPQ | Benzinga

Friday, July 08, 2022

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