Uplisting to a bigger exchange is almost always a major development for any company and hence, Fernhill Corp (OTCMKTS:FERN) is one of the companies that is gaining considerable traction among investors these days.
Trading Data
On Tuesday, FERN stock soared 29% to $0.0012 with more than 36.78 million shares, compared to its average volume of 11.67 million shares. The stock moved within a range of $0.0090 – 0.0115 after opening trading at $0.0090.
Fernhill Corp Receives Nasdaq Approval for Ticker Symbol FERN
Yesterday, the company announced that it had received a notification from NASDAQ with regards to the fact that its request to have FERN as its ticker symbol had been approved. That was another significant step in the company’s quest to get uplisted to the exchange and hence, there was major excitement among investors when the news was announced yesterday.
After the news broke, the Fernhill stock rallied strongly and ended up with gains of as much as 29% amidst heavy interest. In this regard, it ought to be note that the name is going to be in reserve for Fernhill for as long as 24 months from the date of approval.
It now remains to be seen if the rest of the process moves forward as smoothly for the company or not. Investors could do well to add the stock to their watch lists and keep an eye on the proceedings over the course of the coming days.
Key Quote
Chris Kern, Chairman, stated: “Getting a symbol reserved for trading on a senior exchange is a very big milestone for Fernhill. The fact that we were able to secure our symbol so quickly for Nasdaq is another great step towards our uplisting objective for this year. We will continue to work towards meeting the listing standards for corporate governance and other requirements knowing that we now have our symbol reservation approved.
Technical Data
FERN stock is trading below the 20-Day and 50-Day Moving averages of $0.0112 and $0.0113 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0213.
