There was no specific news about GNCC Capital Inc (OTCMKTS:GNCP) on Thursday but the company’s stock suffered from a strong selloff and ended the day with a decline of as much as 33%.
Major Triggers
In this situation, it is perhaps important for investors to figure out if it could be an opportunity to get into the stock. However, back on September 3 the company sent out a press release with regards to a range of issues that had been highlighted back in July. The company noted that last weekend it was going to file the amended report for the third quarter after OTC Compliance had requested certain additions.
However, more importantly, the company added that it expects its Pink Current status to be restored within five business days from September 7. It goes without saying that it was a significant announcement from the company and something investors are expected to watch closely.
However, in this context, GNCC Capital had also added that the status change on the OTC Markets was temporary in nature and the company had no problems in completing its transactions during that period. These were fairly positive updates and it is going to be interesting to see if the GNCC stock can make a recovery soon.
