Anyone who is looking into stocks that have recorded strong gains over the course of the past week must have come across the Good Gaming Inc (OTCMKTS:GMER) stock, which has gained 20% during the period.
The company was in the news cycle yesterday when its Chief Executive Officer David B. Dorwart announced that the company was officially notified by the OTC Markets with regards to the fact that it had been uplisted to OTCQB tier from Pink Sheet Current. The uplisting became effective immediately. It was a significant development for the company and one that could make it more attractive for investors as well.
The OTCQB is the middle level of the over counter markets in the United States and companies which are listed are subject to much more strident standards. Those companies not only have to clear a bid test but are subjected to annual verification processes as well. In other words, the uplisting is an indication of the fact that Good Gaming is now a much more sound company and its CEO said as much. Dorwart stated that he was pleased at the fact that the company managed to meet all qualifying conditions. He added that it further indicates the commitment that the company had with regards to transparency to its shareholders.
Market Reaction:
On Tuesday, GMER stock surged 8% at $0.41 with more than 1.87 million shares, compared to its average volume of 2.44 shares. The stock has moved within a range of $0.3785 – 0.4879 after opening the trade at $0.38.
