On Wednesday, EYEfi Group Technologies Inc (OTCMKTS:EGTTF) was in the news after it announced that it had managed to get DTC Eligibility. While it goes without saying that it was a major development for the company, it did not lead to any significant move in the stock and it traded in a range.
Trading Data
On Wednesday, EGTTF stock ended flat at $$0.4574 with 1.5K shares, compared to its average volume of 382 shares. The stock has moved within a range of $0.4574 – 0.4574 after opening trade at $0.4574.
EYEFI Group Technologies Inc. Announces DTC Eligibility
However, at the same time, investors ought to note that DTC Eligibility implies that the company will now be able to offer electronic settlement to investors. In light of that, it is now going to possible for EYEfi Group Technologies to attract a much larger pool of investors.
The eligibility is only application in the United States and the stock can now be traded as well as services by way of the electronic book entry system that is operated by DTC (Depository Trust Company).
The Chief Executive Officer of EYEfi Group Technologies, Simon Langdon, spoke about the development as well. He stated that the company is now going to be able offer electronic settlement to investors who are based out of the United States. Now that a much larger number of investors are going to have access to the EYEfi Group Technologies stock, it remains to be seen if the stock can make an upward move soon.
