Approval for a stock uplisting can come as a major boost for most stocks and that is what seemed to have happened with the Good Gaming Inc (OTCMKTS:GMER) stock last week. Back on July 7, the Chief Executive Officer of the company David B. Dorwart announced that the OTC Markets approved the uplisting of the Good Gaming stock to the OTCQB from pink sheet current.
That is a significant development for the company and its stock; hence it came as no surprise that investors piled on to the stock in a big way last week. On Friday, the stock shot up by 56% and ended the week with gains of 200%. In light of such enormous gains, it could be a good idea for investors to keep the stock on their watch lists this week.
An uplisting from pink sheet current to OTCQB is an important one for any company. Companies that are listed OTCQB are in the middle tier of stocks in the over-the-counter markets and are subject to must tougher minimum reporting standards. In addition to that, those companies need to go through annual verifications and undergo a bid test.
Hence, it is easy to see why investors might have more confidence in getting into these stocks when it comes to over-the-counter shares. The CEO stated that since the company is currently looking to get as transparent as possible, the board of directors decided that an uplisting was in the best interests of the company.