Whenever a company makes announcements with regards to the possibility of uplisting to a bigger exchange, it is generally seen as a positive move by investors. One of the stocks which managed to go on a strong move yesterday following such an announcement was Castellum Inc (OTCMKTS:ONOV).
Trading Data
On Tuesday, ONOV stock moved up 11.73% to $0.1810 with more than 468K shares, compared to a volume of 41K shares. The stock moved within a range of $0.1810 – 0.2000 after opening trade at $0.1950.
Castellum, Inc. Announces Intent to Uplist to NYSE American Exchange
It ended the day with gains of as much as 12% yesterday after it announced that its stock had been approved for uplisting to the NYSE American Exchange. However, it should be noted that the uplisting is subject to a number of requirements including price requirements.
In this regard, it should be noted that the announcement came at a time when the company is going to not only have an underwritten public offering and also a reverse stock split on a 1 for 20 bases. Both of those are going to happen on October 7, 2022. When the listing does happen, the ticker symbol of the stock is going to be CTM and the common stock is expected to start trading on the same day.
In light of the rally in the stock, it could well be a good idea for investors to consider adding the stock to their watch lists.
Technical Data ONOV stock is trading below the 20-Day and 50-Day Moving averages of $0.21 and $0.22 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.21.
