Atlantic International (AIC) stock surges on news of Dutch contract, but details in filing raise questions
Atlantic International Corp. jumped over 150% Tuesday late morning. The staffing firm said Circle8 Group, one of its units, landed a Dutch government deal valued at a minimum of $52 million. Shares traded near $1.12, up roughly 155%. Volume topped 291 million shares, according to market data. The timing was notable, coming less than a day after Atlantic turned in its overdue Form 10-Q and posted a big jump in Q1 revenue. The late filing triggered a Nasdaq non-compliance notice in May, but Atlantic said this filing should fix it.