This morning more and more investors are going to be tracking stocks that had managed to clock significant gains this past Friday and one of the stocks which could find favor is Arch Therapeutics Inc. (OTCMKTS:ARTH). The stock was in considerable focus on Friday and had ended up with gains of as much as 31% amidst heavy interest.
On Friday, ARTH stock increased 31.56% to $0.0211 with more than 4.61 million shares, compared to its average volume of 352.35K shares. The stock moved within a range of $0.0101 – 0.0250 after opening trade at $0.0150.
Arch Therapeutics Announces Intent to Uplist from OTC to a National Exchange
The company, which is involved in the development of innovative wound care and biosurgical products, was in the news on Friday. The company announced that it was looking to uplist its shares to a national exchange by the end of this year or at the beginning of 2023.
An uplisting could bring considerable benefits and the management of Arch Therapeutics believes the same. It noted that an uplisting to a national exchange is going to bring considerable strategic benefits, which will be in the best interests of the shareholders. Moreover, the uplisting would be particularly significant since the company was now on course to generate growth. A national exchange is going to provide the Arch Therapeutics stock with exposure to a much bigger pool of investors and much more capital. Additionally, it also brings institutional investors into play.
“This is an exciting and critically important time at the Company. I believe Arch is ideally positioned to accelerate revenue opportunities on multiple fronts as we continue to pursue near-term reimbursement options for AC5 as a synthetic skin substitute. The Uplisting is a key element of the overall growth strategy that we believe will favorably impact our capital markets visibility and liquidity, thereby benefitting all stockholders,” stated Michael Abrams, Chief Financial Officer of Arch Therapeutics.
ARTH stock is trading below the 20-Day and 50-Day Moving averages of $0.0246 and $0.0383 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0752. The company has a total market capitalization of $5.25 million.