GNCC Capital (OTCMKTS:GNCP) Stock Soars 50% After OTC Tier Status Update

Shares of GNCC Capital (OTCMKTS:GNCP) moved up sharply in the previous trading session on high volume.

Market Stats

On Tuesday, GNCP stock jumped 50% at $0.0003 with more than 1.38 billion shares, compared to its average volume of 276.25 million shares. The stock has moved within a range of $0.0001 – 0.0003 after opening the trade at $0.0002.

Major News

GNCC Capital (OTCMKTS:GNCP) has stated that its Further Amended Q3 Report is currently under review by the OTC Markets Compliance. This is necessary for the company to be reinstated to its status of “Pink Current”. As of now, the Board of Directors is directly communicating with OTC Markets Compliance for further updates.

According to them, OTC Markets Compliance is unlikely to ask for further amended Q3 reports to be filed. They are hopeful that based on OTC’s review of their response; the company status will be reinstated to that of Pink Current without additional delays. The company has sympathized with shareholders who are eagerly awaiting the reinstatement, so that transactions can be announced. They have reassured that things are under control and the issue seems to be imminently resolved.

GNCC Capital has stated its filings are up to date, and were filed as per the designated time frame (the Q3 on August 22, 2021). The last filing was an amended one for the Q3 period, as per the request of OTC Markets Compliance on September 23, 2021. On October 27, 2021, it was confirmed that the company’s Annual Report and the Attorney Letter for the Year Ended September 30, 2021 will be filed on the OTC Markets, after Pink Current status is reinstated.

Traders Corner

GNCP stock is trading above the 20-Day and 50-Day Moving averages of $0.0003 and $0.0003 respectively. However, the stock is trading below the 200-Day moving average of $0.0009. The stock is up 25% in the past 3-month.