Capital Financial Global Inc. (OTCMKTS:CFGX) jumped 95%. The company updated its shareholders on August 20, 2021, through Twitter about its approval on OTC Market. The tweet read, “$CFGX is now fully approved with OTC Markets Group for their OTC Disclosure and News Service. This is key to bring the company back to full Pink Current Disclosure status before September 26, SEC 15c2-11 deadline.”
The new SEC rule could change who can invest in particular securities. Following the amendment of the SEC Exchange Act Rule 15c2-11 in September, trading in the OTC Market will be under strict disclosure standards prohibiting broker-dealers from quoting public securities that don’t maintain current data.
The amendment, seeking to protect investors through market activity restriction of companies with out-of-date or limited information, will push most securities trading in the Pink Market to the unregulated Grey Market. However, for Capital Financial Global, the approval means the company’s securities will continue trading in the Pink market. So in the coming weeks, CFGX is a stock investor should watch.
Market Reaction:
On Wednesday, CFGX stock soared 94.5% at $0.0018 with more than 692.80 million shares, compared to its average volume of 57.56 million shares. The stock has moved within a range of $0.0012 – 0.0019 after opening the trade at $0.0012.
