Intellinetics Inc (OTCMKTS:INLX) Stock Soars As Company Announces Uplist to NYSE American Exchange
This morning many investors are going to be looking into those stocks which may have made substantial gains on Tuesday and one of the stocks which could be worth looking into is that of Intellinetics Inc (OTCMKTS:INLX).
Market Stats
On Tuesday, INLX stock soared 31.91% to $4.96 with 700 shares, compared to its average volume of 151 shares. The stock moved within a range of 4.3000 – 4.9600 after opening trading at $4.30.
Intellinetics, Inc. Announces Uplist to NYSE American Exchange
The company, which is involved in accelerating digital transformation, was in major focus yesterday and ended up with gains of as much as 32%. The company came into focus after it announced that its stock had been awarded the approval for an uplisting to the NYSE American stock exchange. It goes without saying that an uplisting is almost always a major positive for any company and perhaps the reaction of the investors was not a complete surprise.
The stock is going to continue to trade under its current ticker symbol INLX and it is going to start trading on the NYSE American stock exchange from September 9, 2022. It should be noted that the stock is going to continue to trade on the OTCQB up until the close of business on September 8, 2022. A listing to a bigger exchange can help a company in being exposed to a bigger pool of capital and investors.
Key Quote
“This uplist to the NYSE American marks yet another significant milestone achievement in our journey as a public company,” stated James F. DeSocio, President & CEO of Intellinetics. “Trading on the NYSE American will allow us to create greater long-term value for our stockholders by increasing our presence within the investor community and, in turn, increase liquidity. As a result, we are even more confident in our growth strategy as we continue to deliver mission-critical digital transformation solutions to highly regulated industries.”
Traders Corner
INLX stock is trading above the 20-Day and 200-Day Moving averages of $4.27 and $4.44 respectively. However, the stock is trading below the 200-Day moving average of $5.72.