Transportation and Logistics Systems Inc. (OTCMKTS: TLSS) was up 10% and 20% in a week. Recently the company announced the approval of its common stock for a quotation on the OTC Markets Group’s OTCQB Venture Market under ticker “TLSS” starting September 1, 2021.
CEO John Mercadante said that the upgrade to OTCQB is a massive milestone for the company and indicates that the turnaround and restructuring plan implemented in 2020 has TLSS headed on the right path. He added that they are optimistic that the wider exposure afforded by the OTCQB has the potential to increase the company’s visibility in the investment community and enhance the expansion of the stockholder base.
OTCQB venture is the OTC Markets Group’s middle-tier level, and it is for developing and early-stage companies within the US and overseas. To qualify for quotation, companies have to be current in reporting, undergo management certification and verification process yearly, and equally meet other requirements. Therefore, the uplisting of TLSS is worth keeping an eye on.
Market Reaction:
On Monday, TLSS stock went up 10% at $0.0230 with more than 73.89 million shares, compared to its average volume of 21.28 million shares. The stock has moved within a range of $0.0206 – 0.0230 after opening the trade at $0.0210.
