The holding company Creatd Inc (OTCMKTS:CRTD), which claims to service creators to the best of its abilities, was in the news yesterday after it made a major new announcement.
On Monday, CRTD stock ended flat at $0.1000 with 80.16K shares, compared to its average volume 604.83K shares. The stock moved within a range of $0.0860 – 0.1185 after opening trade at $0.0950.
Creatd, Inc. Receives Approval to Trade on the OTCQB Market Under the Symbol CRTD
The company announced yesterday that its stock had been successful in qualifying for trading on the OTCQB Venture Marketplace. It was a significant development for the company since it had been upgraded from the Pink Sheet market. The stock had started trading on the OTXQB Venture Marketplace from yesterday and was trading under the ticker symbol CRTD. Investors who are interested in the stock could take a look at the stock quotes on the OTC Markets website.
An uplisting of this nature can often prove to be highly beneficial for companies. The listing on a verified market with greater access to investors from the United States helps companies to build considerable shareholder value and eventually hit a fairer valuation.
Moreover, the company gets exposure to a larger pool of investors and hence, there is the possibility of attracting greater volumes of investment. Jeremy Frommer, the Chief Executive Officer of the company noted that it was only the first step for Creatd to again get reinstated on NASDAQ.
Commented Creatd Chairman and CEO Jeremy Frommer, “With today’s announcement we have officially taken our first step in our effort to have Creatd stock reinstated for listing on the Nasdaq, or pursue a larger exchange, the NYSE. Our go-forward plans are underpinned by our view that the distressed levels seen today are a product of market conditions, and not company fundamentals, and the conclusion that to finance properly in a seized capital market would be untenable. Our focus continues to be to generate long-term value for shareholders and to seek an environment, whether that be in the private sector or on an exchange, that accomplishes that goal.”
CRTD stock is trading below the 20-Day and 50-Day Moving averages of $0.26 and $0.58 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.16.