A small Arizona-based company just announced today that the OTC Markets Group, Inc. has approved the company as “Pink Sheet Current” as it is now filed all required mandatory quarterly disclosure filings. Shares of the micro cap soared on the news.
Ever since this year’s update to SEC Rule 15c2-11 pertaining to disclosure requirements for OTC companies, this feat is not as easy as it used to be. This is why shares of Nextmart Inc. (OTCPK:NXMR) rallied so strongly on the news.
Traders bought up shares all the way to $0.04/share (+73.16%) following the headlines. This move could be an indication of things to come as the stock continues its uptrend for the year.